Fed to hint in July that it plans to start cutting rates in September: Evercore
Evercore ISI, a prominent investment banking advisory firm, indicated that the Federal Reserve is now poised to lower interest rates in September following a softer-than-expected Consumer Price Index report.
Despite some components of the CPI not aligning directly with the Federal Reserve's preferred inflation gauge, the core Personal Consumption Expenditures price index, Evercore believes the overall trend is indicative of a sustained reduction in inflation rates. Previously, the strength and tightness of the labor market allowed the Fed the luxury of patience, waiting for clear signals of easing inflation before adjusting policy. However, Evercore suggests that the balance of risks has now shifted, making the cost of delaying rate cuts potentially higher.
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