Pantheon Macroeconomics

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27th Jul 2022 14:52U.S., Daily Monitor

The Fed followed the script, but Chair Powell was careful to avoid making predictions for September.

With eight weeks of softer data to come before the next meeting, we think 50bp is a solid September bet. 

The economy likely shrank at a 0.5% rate in the second quarter, thanks entirely to a swing in inventories.

capex capital goods core capital goods orders durable goods energy energy prices fed foreign trade gdp growth headline gdp growth inflation picture inventories July June labor oil oil prices payrolls policymakers q2 q3 rate hike recession September spending growth summer trade transportation

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Keywords for: 28 July 2022 US Monitor

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