Fed is still ‘inflation-first’ after cooler CPI, but weak jobs report means it’s no longer ‘inflation-only’ – Natixis

(Kitco News) – Wednesday morning’s CPI report is proof that broad inflationary pressures are easing, but while the Federal Reserve is likely to remain focused on inflation between now and the September meeting, last Friday’s dismal nonfarm payrolls data means both sides of the dual mandate are back in play, according to economists at Natixis.Economists Christopher Hodge and Selin Aker wrote that last week’s employment report casts the in-line CPI data in a different light.