With cooler than expected growth, below 2% annualised QoQ for the first time in seven quarters, and hotter than expected inflation, being something of a potent mix for the FOMC to have to contend with.
The data, however, is unlikely to materially shift the policy outlook, with a data-dependent 'wait and see' approach still set to be taken, as policymakers continue to seek confidence that inflation is indeed returning towards the 2% target.
[
add
]
[
|
|
...
]