2024-06-12 11:25:00 ET
Summary
- A surprise 0.2% MoM core CPI inflation print after a similar reading for April core PCE deflator offers good news for the Fed in its fight to ease price pressures.
- This needs to become the trend after a series of far too hot readings at the start of the year.
- We think it will be and with unemployment on the rise we expect the Fed to cut rates in September.
CPI finally tracking for 2%, but more good news is needed for rate cuts
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Inflation Relief Boosts Case For U.S. Rate Cuts