To Get Inflation Lower, Need To Slow Economy To Below-Trend Growth

Schwab Network

Weaker services activity is getting a bit of an offset by improving the housing environment, notes Liz Ann Sonders. She discusses the jobless claims for the week of June 17th and what jobless claims indicate about overall employment trends. She talks about pricing in "higher for longer" rates. She mentions that the current July FMOC probabilities sit at 80%/20% for hike/no hike. Powell notes that getting inflation lower will require slowing down the economy to below-trend growth. Liz Ann also suggests that breadth is marginally better, but more work is needed for health backdrop. Tune in to find out more about the stock market today.