An updated survey from the Philly Fed
Q2 GDP 3.1% vs 2.3% prior
Q3 GDP 2.5% vs 2.4% prior
Q2 unemployment rate 4.5% vs 4.6% prior
Q3 4.4% vs 4.6% prior
Q2 Core CPI 1.7% vs 1.9% prior
Q3 1.9% vs 2.2% prior
Q2 payrolls avg 177,300 per month vs 167,000 prior
Q3 170,700 vs 168,900
The lowering of core CPI is perhaps the kicker here. If that becomes a theme across FOMC voters, then the hike path might start to become a lot more shallow.
The Atlanta Fed GDP model is due out at some point in the next hour or so.
