The sharemarket has focused on picking the top of US inflation, but the real concern is how long it hangs around, and how the Federal Reserve will respond.
Washington| US sharemarkets jumped on Wednesday (Thursday AEST) on hopes inflation has peaked, but they might be missing the critical question of how high inflation will stay in coming months.
The US consumer price index rose by 8.5 per cent in the year to July, a slower annual increase compared with June, as inflationary pressures eased on the back of lower petrol prices.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
