More Inflation
Growth in the Producer Price Index for September was expected to be high, but this morning's report beat a lot of expectations, coming in, month-over-month, at 1.9% and 0.3% at the core level (excluding food and energy). Inflationary pressures and flow-throughs, particularly from energy prices, are beginning to manifest themselves in the production of goods.
The Fed will march on, in its crusade to Whip Inflation Now.