More from the AAPL conference call, CEO Cook in the high levels of inflation:
- “There’s clearly wage inflation. There’s inflation related to logistics as well, if you compare it to pre-pandemic kind of levels.”
The Federal Reserve is set to hike the funds rate again next week (meeting November 1 and 2) and even further in December and more in 2023.
+75bp is the consensus for next week’s hike.