Inflation Has Cooled to Room Temperature, JPMorgan’s Kelly Says
David Kelly, JPMorgan Asset Management chief global strategist, says the latest economic reports do not call for drastic Federal Reserve action. Speaking on "Bloomberg Surveillance," Kelly says he’d be very happy with a 25 basis point rate cut at the Fed’s next meeting. The core CPI increased 0.3% from July, the most in four months, and 3.2% from a year ago, Bureau of Labor Statistics figures showed.
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