US rate cut bets heat up, but inflation reacceleration jitters to keep Fed wary
Investing.com -- Bets on Federal Reserve September rate cut were given a major boost this week following a steeper-than-expected slowdown in inflation last month, but RBC continues to believe that a cut may only come at the end of the year as the reacceleration in inflation seen in Q1 will likely continue to weigh on the Fed's thinking.
Others agree and point to the fewer rate cut outlook as a sign that stronger inflation at the start of the year will continue to filter into the Fed's monetary policy calculus. “”We’re not there yet, but you have to look at the whole group of data and be happy that we’re starting to see inflation move back down again after stalling a bit in the first part of the year,” Cleveland Federal Reserve Loretta Mester said in an interview with CNBC.
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