Goldman Sachs says the latest US inflation data supports the view that recent tariff-related price pressures will be largely transitory, with the measures yet to drive substantial increases in consumer prices.
The bank expects market attention to pivot toward the employment side of the Federal Reserve’s mandate in the coming months, as softer labour market data could strengthen the case for easing policy. Goldman added that the CPI report reinforces the narrative for a September “insurance” rate cut to safeguard the economy against downside risks.This is pretty consensus stuff from GS for now. Despite still-rising inflation job market worries seem to be the focus for the Fed.
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