Markets have already priced in rate cuts as soon as Feb 2024. It's hard to see how even a slow CPI report might chance that calculus.
) bulls are hoping for continued good news on the U.S. inflation front from Thursday morning's July Consumer Price Index report from the Bureau of Labor Statistics.
Core CPI, which strips out more volatile food and energy costs, is expected to come in at 0.2% in July, matching June's figure. The annual core CPI pace is expected to slip to 4.7% from 4.8%. Core CPI peaked at 6.5% in March 2022, and one year ago in July, the annual level was 5.9%.Aiming to tame galloping inflation in 2022, the Federal Reserve early last year embarked on a string of rate hikes, taking its fed-funds rate from a range of 0% to 0.25% to the current 5.25%-5.50%.
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