ACTV - The Fed Dithers While Inflation Withers

2024-07-16 02:20:00 ET

Summary

• Fed Chairman Jerome Powell said in his Senate appearance that he was encouraged by evidence of cooler inflation and that more “good data” would help get the Fed to where it wants to be.
• Powell also said the environment for rate cuts is approaching, and said that the job market is also slowing down and attracting more attention from policy-makers.
• On Thursday, the Labor Department reported that the Consumer Price Index (CPI) declined by -0.1% in June and rose 3% in the past 12 months.

Last Tuesday, Fed Chairman Jerome Powell said in his Senate appearance that he was encouraged by evidence of cooler inflation and that more “good data” would help get the Fed to where it wants to be. Specifically, Powell said that the inflation numbers “have shown some modest further progress” after some hotter readings in the first quarter, “and more good data would strengthen our confidence that inflation is moving sustainably toward 2%.”...

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