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JPM economist Michael Feroli said on the....>

US VIEW
US VIEW: JPM economist Michael Feroli said on the July jobs report/monetary
policy that "the Fed set a low bar for balance sheet normalization to begin in
September, and today's number cleared that bar with elan. And while there should
be several months to go before the next hike - which we forecast in December -
the July employment report is a step in the right direction for our forecast to
be fulfilled."

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