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29th Jul 2025 11:33USDaily Monitor

  • Markets cut September easing odds to 50% after Mr. Powell spoke, but labor market data will force the issue.
  • 3% headline GDP growth mostly reflects the distortions that depressed growth in Q1 unwinding. 
  • Underlying growth has slowed sharply since late 2024, and looks set to remain relatively weak. 

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Keywords for: 31 July 2025 US Monitor

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