π PIMCO: Waller's Hawkish Turn Raises the Stakes for June PCE
PIMCO's Macro Signposts notes Fed Governor Christopher Waller became the first FOMC voter to flag a conditional path toward rate hikes this year if inflation prints 'hot' again, with core PCE above 0.3% a likely threshold; PIMCO estimates June core PCE will come in near 0.2%, ahead of the July 30 release.
Why it matters: A softer-than-threshold PCE print would likely keep the Fed on hold for now, but the narrowing tolerance for upside inflation surprises raises the risk of renewed rate volatility around each data release through year-end.
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