CNBC: Traders now see next Fed interest rate move as a hike following inflation surge

Traders are suddenly pricing in a possible rate hike at the next Fed meeting after the inflation print, which is a pretty sharp flip from the “rate cuts soon” narrative just a short time ago (CNBC: https://www.cnbc.com/2026/05/15/traders-now-see-next-fed-interest-rate-move-as-a-hike-following-inflation-surge.html).

NASDAQ was down almost 2% at the lows and then just slowly clawed its way back like the macro story didn’t really matter that much in the end. what I think people are saying we all know it is going back up again so why even sell at this point or nothing matters anymore