Fed Rate Cut: Will the US CPI data of June prepare the Fed to cut rates sooner? - Investing Abroad News | The Financial Express
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The US CPI monthly index remained unchanged in May while the annual index rose 3.3 percent. The core inflation index rose 3.4 percent over the past 12 months, showing a rise of 0.2 percent in May. All eyes are on the June US CPI data to be released on July 11, 2024. The US Fed will hold its FOMC meeting on July 30-31, and the markets anticipate that policy rates will remain unchanged. Fed Chair Jerome Powell stated the US economy is no longer overheated, with a cooling job market and a stronger case for interest rate cuts. The markets have discounted Fed action, expecting Powell to deliver the first rate cut in September. The US central bank remains concerned about inflation stickiness despite a decrease from 9.1% in June 2022 to 3.3% in May 2024. The US elections in November, US CPI data, and the US labor market remain the biggest factors that could determine how the US markets close in 2024.

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https://www.financialexpress.com/business/investing-abroad-us-cpi-data-for-june-to-be-released-today-fed-prepares-for-potential-rate-cut-3549771/