VIDEO: September CPI Data Reports Higher Than Expected Inflation Despite Fed’s Aggressive Rate Hike Strategy, Markets Swing Wildly
The United States Department of Labor reported this morning that the Consumer Price Index (CPI) increased 0.4% in the month of September, compared to a rise of only 0.1% in August.
Overall, consumer prices increased 8.2% in the last year, compared to the consensus estimate amongst economists of 8.1%.

The markets expectedly sold off sharply in early trading before mounting a massive comeback swinging more than 5% to close the day up 2.6%.
Commenting on today’s wild trading session, Michael Contopoulos, director of fixed income at Richard Bernstein Advisors, had this to say:
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