Paid-members
Fedspeak Monitor 8/4/24
Just a couple of reactions to the jobs data last week from Barkin and Goolsbee, both downplaying the jobs report.
Just a couple of reactions to the jobs data last week from Barkin and Goolsbee, both downplaying the jobs report.
Another week of Fedspeak hearing from the dovish side of the Committee, who are mostly pushing back on July.
Powell laid the groundwork for rate cuts this week. While he wasn't specific about timing at the Humphrey Hawkins hearings, he was dovish enough that the subsequent inflation release solidifies a September start to the cutting cycle.
While still no one is willing to explicitly say it's time to go, the Fedspeak leaned dovish this week.
Since the June FOMC meeting and the May CPI release, there's been a noticeable shift in tone amongst the doves in the Committee.