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U.S. Long-term Inflation Expectations Rise to 30-Year High for Three Consecutive Months
According to a report from Jinshi Data, the long-term inflation expectations indicator in the United States has risen for the third consecutive month to a high not seen in over 30 years. Matthew Luzzetti, Chief U.S. Economist at Deutsche Bank, stated that this limits the Federal Reserve's ability to support the economy until signs of weakness in the labor market emerge.
He pointed out that this could manifest as a slowdown in job growth, an increase in the unemployment rate, or a surge in layoffs. The Federal Reserve may take a wait-and-see approach to observe whether these situations occur. Luzzetti expects that the Federal Reserve will not cut interest rates this year and believes that the inflation issue has not yet been resolved.
He pointed out that this could manifest as a slowdown in job growth, an increase in the unemployment rate, or a surge in layoffs. The Federal Reserve may take a wait-and-see approach to observe whether these situations occur. Luzzetti expects that the Federal Reserve will not cut interest rates this year and believes that the inflation issue has not yet been resolved.
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