The Daily Chase: CN Rail flexes pricing power; Awaiting U.S. Fed rate decision

Inflation is the watchword today, starting with major Canadian earnings, where price makers are being separated from price takers.

FED DAY

The big question surrounding today’s rate decision, when another ¾-point hike is expected, might be whether Chair Jerome Powell will give any indication during his news conference that the central bank is prepared to ease the pace of tightening as the economy weakens. After all, tomorrow we will see headlines across the globe about the U.S. slipping into a technical recession if the headline second-quarter figure has a minus sign in front of it. Ahead of the rate decision we’ll speak with ex-Atlanta Fed President Dennis Lockhart at 9:10 a.m.

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