JP Morgan response to the US June CPI report – soft landing path a "smidgeon" wider

<p>The US CPI report for June came in lower than the consensus expected for both headline and core m/m.</p><ul><li><a href="https://www.forexlive.com/news/us-june-cpi-yy-30-versus-31-expected-20230712/" target="_self" rel="follow">US June CPI y/y 3.0% versus 3.1% expected</a></li></ul><p>JP Morgan, in a nod to Federal Reserve Chair Powell's comment about a narrow path to avoiding recession, says:</p><ul><li>"… the narrow path to a soft landing looks a smidgeon wider
this morning"</li></ul><p>Citing:</p><ul><li>"Core CPI is already off 1.7%-points from its high. The
standard models predict that the next 2-3%-points of disinflation
will require a significant employment sacrifice, but those models
missed both the run-up and partial climb down in inflation."</li></ul><p>Goldman Sachs are tipping the July Federal Open Market Committee (FOMC) rate hike to be the final in the cycle:</p><ul><li><a href="https://www.forexlive.com/centralbank/goldman-sachs-response-to-the-us-cpi-report-affirms-a-final-fomc-rate-hike-july-20230712/" target="_blank" rel="follow" data-article-link="true">Goldman Sachs response to the US CPI report – affirms a final FOMC rate hike July</a></li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.