Morgan Stanley's number haters are out with their estimate for core PCE. they see it at 0.16% MoM. For the headline PCE figure they see it at 0.26%.
In other bank comments today:
- Wells Fargo expects the Fed to deliver two 25 basis point cuts this year in September and December
- Citgoroup CFO says that consumers have been very resilient. They say the M&A pipeline is very strong
- JPM Chase Dimon says the path that comes next is up to him and not just about him. He plans to stick around for a few more years. Inflationary pressure continues and the bank is creating efficiencies to help offset it.
- Goldman's CEO says there is a meaningful shift in confidence, especially after the US election results. They say the Fed's current stress testing is creating uncertainty
This article was written by Greg Michalowski at www.forexlive.com.
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