Days after Rate Cut, S&P’s Flash PMI Sees Rising Inflation and Exhorts the Fed to “Move Cautiously” with “Further Rate Cuts”

Underlying inflationary dynamics are picking up steam, after having cooled a lot. Today, S&P’s preliminary Flash US Composite PMI (Purchasing Manager Index), based on data collected from September 12 through 20, entailed multiple warnings about the Fed’s future rate cuts, in light of reaccelerating selling-price inflation in both the services and manufacturing sectors...