Fed starting to cut rates in September is back on table after softer CPI print
The Consumer Price Index data for May showed a lower-than-expected increase, suggesting a potential shift in the Federal Reserve's interest rate policy in the coming months.
In response to the CPI report, Evercore ISI economists noted the Federal Reserve might interpret this data as a sign of easing inflationary pressures. Evercore ISI anticipates that the Federal Open Market Committee will subtly update its statement to reflect the recent inflation developments. This split reflects the recent nature of the CPI data, the need for further confirmation, and a cautious approach to managing market expectations.
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