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U.S. long-term inflation expectations climb to 30-year high for three consecutive months
According to Jinshi Data, the U.S. long-term inflation expectations index climbed to a more than 30-year high for the third consecutive month. Matthew Luzzetti, chief U.S. economist at Deutsche Bank, said this limits the Fed's ability to support the economy until there are signs of weakness in the labor market.
He noted that this could manifest itself as slower job growth, higher unemployment or a surge in layoffs. The Fed may adopt a wait-and-see mode to see if these things happen. Luzzetti does not expect the Fed to cut interest rates this year and believes that the inflation problem has not been solved.
He noted that this could manifest itself as slower job growth, higher unemployment or a surge in layoffs. The Fed may adopt a wait-and-see mode to see if these things happen. Luzzetti does not expect the Fed to cut interest rates this year and believes that the inflation problem has not been solved.
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