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JPM economist Michael Feroli eyed.....>

US DATA REACT
US DATA REACT: JPM economist Michael Feroli eyed the "subdued" July 0.1% CPI.
"The near-term Fed implications are probably nil: the FOMC has set a very low
bar to begin balance sheet normalization next month, and today's number
shouldn't get in the way of that move," he said. 
- "Further down the line, while we continue to look for another hike in
December, today's number increases the burden on the inflation data to start to
show some more life," he added.

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