June inflation report set to add to recent data boosting September cut bets: GS
Investing.com -- The upcoming inflation data is expected to show further signs of slowing, Goldman Sachs estimates, and coupled with the recent surprise rise in the U.S. unemployment rate likely puts the Fed on further path toward a September rate cut.
Analysts at the bank, forecast the consumer price index for June to rise just 0.21% in June, helped by drags from used cars and hotels prices, taking the 12-month rate to 3.4%. If the bank's forecast for a slowdown in June is realized that would not only mark a sign of further progress, but may likely"depress" the July print as well.
At the European Central Bank conference last week, Powell emphasized that there had been"'a lot of progress on inflation and that the FOMC now faces more two-sided risks to achieving its inflation and employment goals," Goldman Sachs said. Further clues on the how the recent signs of slowing in the labor market may have impacted the Fed's thinking on monetary policy may come as soon as Tuesday, when Powell is due to deliver his annual two-day testimony before Congress.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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