Bloomberg Surveillance · Wednesday, July 15, 2026
Underlying inflation is showing sticky characteristics, and a new wave of energy price shocks, particularly in oil, is complicating the Federal Reserve's efforts. While core readings have been somewhat stable, the current environment supports the Fed's stance on holding rates steady.
“Yeah, if you look at all the core underlying messages, they all accelerate also, so I think that the FED is breathing a sigh of relief. But yeah, you all, I'm sure heard Chairwash's testimony said. Look, I'm not I'm not saying mission accomplished. I'm still concerned. So he's he's talking very hawkish. I expect more of that today.”
“There's so many moving parts, right, so many possibly structural changes in the economy. I would say it doesn't help that we have another wave of energy price shock, you know, sort of coming at us. You know, the FED was hoping to look through that that first spike up to you know, in oil up in one twenty. Now now we're heading up to ninety plus. It just complicates things again. I think it supports the Fed's reason to say, let's stay on hold to see how this works out.”