CPI bolsters hawkish view that Fed rate cuts need to be gradual

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A warmer-than-expected inflation reading released Thursday offers new ammunition for Federal Reserve hawks who are arguing for a gradual pace of interest rate cuts.
This report, according to some Fed watchers, is unlikely to change the path outlined by policymakers for smaller future cuts following an initial 50 basis point reduction in September.
Investors, in fact, boosted the odds that the Fed will trim its policy rate by 25 basis points in November to 87% following the CPI release.
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