Warsh's Fed Split 9-3 Hawkish Ahead of July CPI Print
July's Consumer Price Index lands at 8:30am ET today as the single data point that could decide whether the Federal Reserve holds rates through year-end or revives the hike case three of its own governors already voted for. The Federal Open Market Committee split 9-3 on July 29, the most hawkish dissent count of Chair Kevin Warsh's three-month tenure, and last Friday's jobs report handed the doves their strongest argument yet: nonfarm payrolls contracted by 23,000 in July, the first negative print in more than a year. Today's CPI settles which signal the Fed listens to.
Key Takeaways The FOMC held the fed funds target at 3.50%-3.75% on July 29 by a 9-3 vote , with regional presidents Hammack,…
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