Adam had the info from JP Morgan as it was hitting:
From their report, a fair comment:
- The June CPI report was very benign
JPM go on with a droll remark
- immaculate disinflation
Yeah, right. Anyway, then this (the bolded bit):
- if the immaculate disinflation signal in this morning’s claims figures plays out, then the Fed should be able to take a more leisurely journey back to neutral
I'll have to admit defeat on this. Why 'more leisurely'? If you move your forecast from November to September isn't that less leisurely?
Let me know in the comments what you make of this remark.
More from JPM:
- Fed Chairman Jerome Powell stated that he wanted to see more good data on the inflation front.
- The data announced today is positive.
- We think that these data pave the way for the first interest rate cut in September.
- “We expect to see interest rate cuts every quarter from now on
US CPI yy
