“I don’t think that necessarily breaks the trend toward disinflation but I think it reinforces the idea that the Fed still has work to do, So we think another 75 basis points from here with no cuts until 2024 seems like a more likely outcome.” – Jan Hatzius, Goldman Sachs chief economist
USAGOLD note: Some will view this forecast as optimisitic. Some of the more hawkish Fed officials are calling for a 0.5% rate increase. The next FOMC meeting is a mmonth away. Much water will run under the bridge between now and then.