The Fed announced a third consecutive 75 basis point rate increase as inflation trends remains hot.
The core CPI jumped again in August as housing and service costs continue to build despite the Fed’s rate tightening.
Monthly Review: Rising inflation, stagflation, soft landing, or recession ahead?
June 14, 2022
By David Berson
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Highlights from the Monthly Review for June 2022:
Economic data are softer, but still suggest further solid economic growth. Job gains slowed for May, but were still solid and above expectations, while business surveys suggested decent demand and slightly improving supply indicators, and the consumer has continued to spend despite worsening sentiment. The recent economic indicators imply that while growth is slowing, it is continuing at a solid pace.
Economic Review
- Economic data are softer, but still suggest further solid economic growth (pg 4)
Financial Markets
- Some stability for stocks and bonds, but not for commodities (pg 5)
The Outlook
- The pace of the housing pullback is likely to moderate (pg 6)
NFM-11356AO.3
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