Softly softly
Does softer consumption and the PCE inflation number on Friday mean the Fed can ease off the pedal? It’s too early to say they will pause in July says NAB's Rodrigo Catril, but softer jobs and CPI in the meantime could add to the case.
NAB Morning Call · NAB - The Morning Call
Audio is streamed directly from the publisher (sphinx.acast.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Monday 3rd July 2023
NAB Markets Research Disclaimer
Financial Services Guide | Information on our services - NAB
Consumption data and the core-PCE inflation read both came in softer than expected on Friday, after a spate of stronger than expected economic data for the US. NAB’s Rodrigo Catril says there’s not enough in these numbers for the Fed to change its current hawkish path, and markets moved only marginally lower in their expectations of the terminal rate, but what if it is compounded by weaker jobs data and falling wage growth on Friday? It’s all discussed in today’s podcast, plus Europe’s inflation remains sticky and a new head on the way for the PBoC.
Hosted on Acast. See acast.com/privacy for more information.