Recent economic reports point to further gradual improvement in the nation's economy. Growth in output bounced back in the spring after a winter slowdown. The nation's labor market edged closer to full employment, but with no indication of overheating. Broad measures of inflation remained subdued, while signs of firming emerged in underlying "core" price measures. Overall, the recent data leave the door open to a before yearend "lift-off" of the federal funds rate, the Federal Reserve's primary policy instrument.
The analysis above is not intended as a trade recommendation. The analysis and forecasts are based on available public data and on the best judgment of PRX, but cannot be guaranteed to conform to future reality.
