Not only was May weaker but April was revised to be weaker as well. Good news to those banking on rate cuts this year but it is likely that those cuts wont come until December. Given how the Fed wants to appear above the politics esp. with an election their hands are tied. They did give themselves the out though when they said they needed months of continuous data that showed this which still has yet to appear.
0 sats \ 2 replies \ @grayruby 18 Jun
I thought market was pricing September for a rate cut. Is it December now?
reply
50 sats \ 1 reply \ @Cje95 OP 18 Jun
Last Fed meeting if I am remembering right the markets priced in a December one which would make sense given the months of downward pressure the Fed wants to see and Powell's history of not wanting to appear to be playing in politics
reply
0 sats \ 0 replies \ @grayruby 18 Jun
I think the market was pricing September heading into the last meeting but the Fed was a bit more hawkish than expected so probably moved to December. More time to stack sats before they get very pricey.
reply
0 sats \ 1 reply \ @Undisciplined 18 Jun
I know they're itching to raise rates, but the data is still showing growth (albeit anemic) and price inflation is still above the official target.
reply
21 sats \ 0 replies \ @Cje95 OP 18 Jun
Yeah I want to say their metrics were reading 2.7% ish even though we know that's BS and it is much worse... not to mention when you add up this has been going on for years now its horrific
reply