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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Inflation Insight-July 2021: The "Transitory" Debate Continues
EXECUTIVE SUMMARY:
- The spike in consumer prices since the economic re-opening began in earnest in March continues to surprise even the most hawkish of forecasters. But in the wake of the June inflation report released this week, it doesn't appear that many market participants or analysts have changed their mind on the "transitory vs non-transitory" inflation debate.
- However, several analysts have acknowledged the consistent overshoot in inflation vs their expectations in recent months, and some underlying dynamics, suggesting a deeper and broader pickup in price pressures.
- It seems increasingly likely that the Fed's FOMC members underestimated inflationary pressures when they submitted forecasts in the June Summary of Economic Projections, but that's unlikely to make a big difference to policy unless and until inflation expectations start to become unanchored.
PLEASE USE THE FOLLOWING LINK TO ACCESS FULL PDF ANALYSIS:
USInflationInsightJuly2021.pdf
Source: BLS, MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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