KWEB - What's Next?

• As Q3 winds down and Q4 begins, the broad investment climate is being shaped by the turning of the monetary cycle.
• The Fed has already acknowledged that the economy moderated in July and August, and it still went ahead with its signal that it will begin tapering in Q4.
• The eurozone publishes its CPI too, but its estimate is for September.
• There was a mini-drama recently about comments by a few board members questioning the accuracy of the staff's recently updated forecasts that saw inflation at 1.5% in 2023.
• Indeed, given these unprecedented times, we should discount long-term forecasts.

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