• Labor market seems roughly stable
• Recent inflation encouraging but too early to put too much weight on it
• Inflation is proving persistent across a broad selection of goods and services
• Inflation remains concerning
• Inflation shocks are not intrinsically transient, disagrees the Fed should look through certain types of inflation

Schmid has been a hawk for awhile so none of this is a surprise but the market is still pricing in a small chance of a July 29 hike. I think anything above 0% is too high because not even a guy like Schmid is in a rush to raise rates.

This article was written by Adam Button at investinglive.com.



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