Inflation data raises doubts about whether Fed will ‘stay the course’: Morning Brief

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Friday, November 11, 2022

Today’s newsletter is by Jared Blikre, a reporter focused on the markets on Yahoo Finance. Follow him on Twitter @SPYJared. Read this and more market news on the go with Yahoo Finance App.

Stocks and bonds had an especially bullish reaction to new data out Thursday showing that inflation continues to moderate after reaching a 40-year high over the summer.

The Dow (^DJI), Nasdaq (^IXIC), S&P 500 (^GSPC) and Russell 2000 (^RUT) each had their best day since the 2020 pandemic lows. The 5- and 10-year Treasury Notes (^FVX, ^TNX) saw their biggest one-day drop in yields since then-Fed Chair Ben Bernanke ramped up quantitative easing back in March 2009.

A casual observer could be forgiven for thinking the Fed has whipped inflation. While the U.S. is far from its 2% inflation goal, inflation eased more than expected last…

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