Macro Landscape Stable: M2 Growth, CPI Uptick, and Fed Policy Outlook
M2 grew 0.44% in July and CPI ticked up 0.07%, neither move shifts the Fed's pause, but the 10-year at 4.78% is the line to watch.
Key Takeaways M2 money supply expanded 0.44% month-over-month in July. CPI increased 0.07% month-over-month, signaling contained inflationary pressures. The Federal Funds rate holds at 3.63% with the 10-year Treasury yield at 4.78%. Unemployment remains steady at 4.1% in August, indicating a still-tight labor market. FOMC is priced at 90% probability for no rate change at the September meeting. Related Reading July CPI Dip Marks First Monthly Decline Since January Fed Signals No Rate Cuts as Inflation Moderates Equinix AI Data Center Surge: SGA Returns as AI Infer…
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