US inflation rises 0.1% in July, easing pressure on Fed
The inflation data, along with a weak July jobs report, bolster the argument for a hold on rates.
US consumer inflation rose by a modest 0.1% in July, remaining in line with economists' expectations and easing at 3.4% annually, according to Semafor. This data points to a potential pause in interest rate hikes by the Federal Reserve, which is set to meet in September. However, the narrative is not yet resolved, as upcoming inflation data and differing views among economists may influence the central bank's decision-making process.
The probability of the Fed maintaining current rates stands at 60%, with no consensus on the most appropriate course of action.
Brief written by urgent.news from Semafor's own syndicated text. Machine-written — it may contain errors, so check the original before relying on it.
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