Charles Schwab: CPI data unlikely to prompt immediate Fed action

Odaily Odaily News: Charles Schwab analyst Richard Flynn said that although today's CPI data may bring comfort to the market because last month's CPI data was unwelcomely higher than expected, these are unlikely to prompt an immediate change in interest rates. "Patience has been the Fed's core message recently. Officials have been fairly consistent in saying that current interest rates are restrictive enough to control inflation and that the next step will be to cut rates. However, it is also clear that they are in no hurry to act. (Jinshi)