31 Jul '22 at 6:11 pm #41193
Friday’s employment cost index in the US rose 5.1 per cent in the June quarter. The Fed will want to be sure the labour market is cooling before it can breathe easier on inflation.
The Fed still has plenty of work to do on inflation. The market sees US rates getting to about 3 per cent and then falling as the central bank tries to support a weakening economy.