ING
Cooling US inflation points to the Fed holding steady
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Cooling US inflation points to the Fed holding steady
The desk believes that recent cooling in US inflation, particularly following a disappointing July jobs report, will likely lead to the Federal Reserve maintaining its current interest rate policy for an extended period. Per the full note [source], July saw core inflation decline to an annualized rate of 2.5%, with 3M annualized core inflation dipping even lower to 1.6%. This shift reduces the urgency for hawkish moves from the Fed, especially as market participants brace for upcoming data releases and the Jackson Hole symposium later this month.