3 reasons to be cautious about July’s ‘very encouraging’ CPI reading
Thursday’s consumer-price report for July is reinforcing the view that U.S. inflation can keep coming down without a recession or major uptick in unemployment, and is boosting the likelihood that the Federal Reserve will take no action in September.
Macro strategist Will Compernolle of FHN Financial lists three reasons why his firm is cautious about reading the July CPI as “the end of worrisome inflation.” See: Why ‘stunning’ jump in jet fuel, diesel prices may complicate Fed’s inflation fight in months ahead
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