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Inflation Cools But Trade Tensions Keep the Fed on Hold

by Felix-Antoine Vezina-Poirier, Chief Strategist  

March’s cooler CPI print reinforces our defensive positioning as it points to softening growth that the Fed cannot address yet. Headline CPI came in at -0.1% m/m (2.4% y/y), and core rose just 0.1% m/m, slowing to 2.8% y/y from 3.1%. Core services inflation…

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