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American2Day

News and opinion for Michigan, Eaton County, and the Mulliken area

American2Day

News and opinion for Michigan, Eaton County, and the Mulliken area

Money

July inflation data could influence Fed rate expectations

A2D News Desk

The July consumer price index due Wednesday could affect expectations for the Federal Reserve’s next interest-rate move after weak jobs data increased attention on inflation and labor-market signals.

Economists surveyed by Dow Jones Newswires and The Wall Street Journal expect CPI to rise 3.4% over the prior 12 months, down from 3.5% in June. Core CPI, excluding food and energy, is expected to rise 2.5%, compared with 2.6% in June.

Market pricing on Monday afternoon showed near-even odds for the Fed to leave rates unchanged in September or raise them to a 3.75% to 4% range, according to CME’s FedWatch tool. December expectations showed a wider range of possible outcomes.

Read the full story at investmentnews.com.

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