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1st Feb 2023 15:51U.S., Daily Monitor

  • The Fed still expects “ongoing” rate hikes, but core services inflation is about to step down…
  • …When that happens, the rationale for further rate hikes disappears, provided the wage data behave.
  • ADP says its payroll data were hit by adverse weather, perhaps signalling downside risk for the official print.

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Keywords for: 2 Feb 2023 US Monitor

Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence