Fed's August Inflation Forecast Shows Reacceleration, Raising Stakes for Divided FOMC

Macro
โดย The Motley Fool·US·Read original
Summary · why it matters

The Federal Reserve Bank of Cleveland's Inflation Nowcasting model projects a reacceleration in inflation for August, potentially intensifying divisions within the Federal Open Market Committee ahead of its September meeting. Monthly headline CPI is estimated at 0.38% for August, up from 0.09% in July, while core CPI is expected to hold at 0.20%. The Fed's preferred gauge, core PCE, is forecast at 0.27% for both months, with annual core PCE ticking up to 3.36% in August from 3.31% in July. At the last FOMC meeting, three of the 12 voting members preferred a rate hike, and the new data could push more members into the hawkish camp. The September meeting is scheduled for September 15-16, with the August CPI report due just days before on September 11.

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