In a closely watched speech Friday, Fed Chair Janet Yellen offered a fairly upbeat assessment of the latest data and other recent reports, pointing to the strength in consumer spending despite the overall weakness in GDP. Yellen says " I believe the case for an increase in the federal funds rate has strengthened in recent months. Of course, our decisions always depend on the degree to which incoming data continues to confirm the Committee’s outlook".
I think that the fate of the September rate hike will rely on the next employment, retail sales and inflation releases. Yellen's speech at Jackson Hole has once again made the U.S. non farm payrolls (NFP) report the biggest indicator for the market could decide the future of the September rate hike.
The U.S. non farm payrolls (NFP) report will be published on Friday, September 2 at 8:30 am EDT
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