On Wednesday, investors will digest one of the most important data points that will shape future Federal Reserve interest rate policy: August's Consumer...
WTI slid more than 3% to hover near US$66 per barrel, while Brent also fell to below US$70 a barrelOn Wednesday, investors will digest one of the most important data points that will shape future Federal Reserve interest rate policy: August's Consumer Price Index .On a "core" basis, which strips out the more volatile costs of food and gas, prices in August are expected to have risen 3.2% over last year, unchanged from July's increase.
"Going forward, we expect monthly core CPI inflation around 0.2% for the rest of the year," Goldman said. "We see further disinflation in the pipeline in 2024 from rebalancing in the auto, housing rental, and labor markets, though we expect offsets from catch-up inflation in healthcare and car insurance."U.S. Federal Reserve Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S.
As of Tuesday, markets were pricing in a nearly 100% chance the Federal Reserve cuts interest rates by the end of its September meeting. However, the odds of a 50 basis point cut versus a 25 basis point cut were split 70/30 after a roughly 60/40 chance placed by traders last week,"Beyond the first cut, we think that activity and labor market data will be a more important determinant of the pace and depth of the cutting cycle than inflation," Bank of America's Juneau and Park said.
VALENCIA, Spain — Even without world No. 2 Alexander Zverev, Germany defeated Slovakia 3-0 on Tuesday and Canada beat Argentina as the group stage of the Davis Cup Finals kicked off.Vice President Kamala Harris and former President Donald Trump will meet for the first time on Tuesday for the ABC News presidential debate. The Harris campaign will fly a drone show over the Philadelphia Art Museum from 8:05 to 8:25 p.m. ET at the famous Rocky Steps, just prior to the debate on Tuesday.
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