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E.J. Antoni shares that CLV Fed has released an updated forecast for the federal funds rate based on seven monetary rules.
The post references an online resource for further details on the forecast methodology and outcomes.
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Antoni previously reported that headline CPI rose 3.4% year over year in July, with earlier monthly gains expected to keep inflation elevated, according to recent figures. He also noted a decline in U.S. nonfarm payrolls by $23,000 in July and mentioned downward revisions and a smaller labor force in his jobs update. These data points provide context for the Fed's updated rate outlook.