San Francisco Federal Reserve branch President Mary Daly spoke over the weekend. The summary post is here:
Daly indicated the FOMC is now eyeing the data to judge the pace of rate hikes ahead:
- “Absolutely -- and we need to be data-dependent,”
- “We need to leave our minds open. We have two more inflation reports coming out, another jobs report.”
There are two CPI reports due before the next FOMC decision (due September 16):
- there I one this week, US CPI on Wednesday August 10th
- the next in that series is due on September 13th
The next jobs report (NFP) is due on September 2nd.
The 'but' in the headline to this post is another inflation print, the Federal Reserve's preferred indicator of prices, core PCE report. We've seen the June figures:
The July figures are due on August 26th.
Of course there are other economic indicators to come but these are the most directly pertinent to jobs and inflation. Plenty to feed the data dependent FOMC!
