Fed Can Still Pack a Surprise as Markets Expect No Change

The transcript discusses the chronological focus on the BOJ and Fed, highlighting market reactions and the dollar index's proximity to the 200-day moving average. It explores the Fed's influence on market conditions and interest rates, emphasizing the need for the Fed to drive market narratives. The fundamentals for a rate hike, such as the labor market and inflation, are also examined, with a focus on the Fed's preferred inflation measure, the core PCE.

Discuss the potential risks associated with the Fed's current monetary policy.

What are the key inflation measures that the Fed is monitoring, and how do they impact policy decisions?