Analyst: U.S. inflation may hinder the Federal Reserve's interest rate cuts this year

2024-06-11 18:33:22

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ChainCatcher news, according to Jinshi reports, IG Group analyst Jeremy Naylo stated that the Federal Reserve's interest rate decision will be a turning point this week, although we expect no changes in rates. Before that, the U.S. statistical department will release the CPI data for May.

This likely indicates that the inflation stickiness we have observed will continue. The U.S. core CPI for May is expected to grow by 3.5% year-on-year, but the real concern lies in the service sector. For the past two months, the U.S. service sector CPI has been rising, with a year-on-year increase of 5.3% in April.

Daily FX forex analyst Richard Snow told traders that there is a general expectation that the so-called "super core" inflation, which is service sector inflation minus housing inflation, will at least keep the year-on-year increase of the past two months at 5.3%, which may mean that the Federal Reserve has little room for interest rate cuts.

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