This was a comment from Iain Stealey, international fixed income CIO at JP Morgan Asset Management, on Bloomberg TV, as markets debate whether the Federal Reserve will opt for a July or September rate cut.
Stealey falls into the latter, a stance he reaffirmed after the US CPI data came through yesterday (11 July). US inflation fell to 3% in June for the second consecutive month, surpassing economists' expectations by 0.1 percentage point. Fed postpones rate cut until 'greater confidence' in sustainable inflation levels This is the lowest inflation has been since Q1 2021 and the Bank of America's Global Research team called this a "confidence building report". "After a concerning start to the year, the path to 2% inflation is on track." The data has rallied some investors to sta...
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