Timiraos: September rate cut is ‘close to a lock’

August 14, 2024
-FCHFX

August 14, 2024 at 02:36PM
The WSJ Fedwatcher Nick Timiraos is out with his take on today’s CPI and he says:

September rate cut from the Fed as close to a lock as these things get

This report makes it easier at the margin to avoid dissents on the first cut

To get 50 bps, you’d probably need to see something bad in the labor market

Intrigue at Sept FOMC will be the dot plot and how many cuts it shows

More mild inflation readings could make three cuts as the baseline more likely

The Fed funds futures market at the moment is pricing in a 41% chance of 50 bps and 59% chance of 25 bps.

This article was written by Adam Button at www.forexlive.com.

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