Rates inference Jun 13, 2026
Three central banks decide what kind of shock this was
US inflation in May looked scary — 4.2%. But almost all the scary part was energy, which is really a Hormuz story. Next week the Bank of Japan, the Fed, and the Bank of England decide in three days whether to believe the number — and the Fed's call may rest on an oil chokepoint no central banker controls.
By Foreman