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25th Jul 2023 20:44U.S., Daily Monitor

  • Chair Powell emphasizes data-dependence; the numbers over the next eight weeks are key.
  • We think inventories propelled Q3 GDP growth to 3.0%, but the margin of error is wider than usual.
  • Jobless claims are likely to spring back to about 260K, but it’s not clear if that will happen today.

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Keywords for: 27 July 2023 US Monitor

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