For the first time since October 2015, core consumer prices rose at a pace slower than The Fed's mandate. The 1.9% YoY rise is the weakest print since Sept 2015.
The last time this pattern played out - in 2012 - The Fed unleashed Operation Twist and subsequently QE3 to stall the disinlationary dive...
This time they are hiking rates??
Perhaps even more concerning is that Core inflation ex-shelter is at its lowest since Feb 2015... and near record lows...