Charles Schwab: CPI data unlikely to prompt immediate Fed action

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