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Fed Policy Direction Unchanged by Latest CPI Report on June 10, Says Riley Financial Strategist

GateNews
Indices

According to Art Hogan, Chief Market Strategist at Riley Financial, the latest CPI report on June 10 did not alter the Federal Reserve's policy direction for its next meeting. The data aligned with expectations but showed overall negative momentum. Market consensus expects the Fed to hold steady, with federal funds futures currently pricing in only one rate hike.

These factors likely helped the market recover some early losses following significant profit-taking in chip and technology stocks.

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