2024-07-12 06:28:00 ET
Summary
- Federal Reserve policymakers closely watch core inflation data for signs of cooling, and June offered a second straight month of surprisingly low readings in the core CPI.
- Looking at the overall CPI data and trends, we don’t believe June’s 0.06% core pace is likely to be the new average monthly pace going forward.
- The June inflation data reinforced our view that macro factors could foster a steeper U.S. Treasury yield curve.
A second straight month of encouraging U.S. core CPI data supports an initial Federal Reserve rate cut as early as September. ...
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June CPI Marks Progress Along The Last Mile To Inflation Target