JP Morgan’s Chief US Economist Michael Feroli on the US consumer:
slower income growth could prove a headwind to consumer spending growththis has been the engine powering the economy in recent quarterspolicy is restrictive downside employment risks are growing upside inflation risks are ebbing
Recommends a 50bp Fed Funds rate cut:
we still think cutting 50bp at the September meeting is the right thing to do
Adam prepared this. I swear the dude can read my mind.
This article was written by Eamonn Sheridan at www.forexlive.com.
