Surveillance: White House & Wall Street Reacts to CPI Data
Brian Deese, White House Director of the National Economic Council, says inflation report is a positive signal and says labor market strength will continue. Michael Pond, Barclays Head of Global Inflation-Linked Research, says inflation report reinforces the Barclays view that the Fed is likely to slow the pace of rate hikes to 50 basis points at the September meeting. Michael Gapen, BofA Global Research Head of US Economics, says that inflation will be sticky, particularly in services. Kathy Jones, Charles Schwab Chief Fixed Income Strategist, says inflation report is a huge sigh of relief for the Fed.
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