Fed's Powell 'may prefer not to change rates before an election', strategists say
The softer-than-expected inflation report for June has fueled market expectations of a rate cut by the end of the year, which could occur before the November elections.
Moreover, core CPI, which excludes volatile food and energy prices, also fell below the target, registering at 1.8% on a three-month adjusted basis. The research firm reflected on the historical precedent of the Federal Reserve altering rates in the months leading up to presidential elections. While the market reacts to the latest inflation data and its implications, the Federal Reserve, under Chair Powell's leadership, remains committed to responding to economic data.
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