6 Apr 2015
June Fed rate hike remains on the cards – ING
FXStreet (Barcelona) - James Knightley, Senior Economist at ING, believes that the recent distortion in the US data was as a result of bad weather, and the economy might stage a rebound, and further remains in favour of a June rate lift-off.
Key Quotes
“The subdued payrolls figure is consistent with the softer activity data seen in recent months, but we believe that this has largely been due to bad weather distorting the true picture for the economy and the West Coast Port disruption, which has been economically significant.”
“With these factors having disipated we expect the "hard" data to bounce back in the next few months and the payrolls figures to also recover.”
“Indeed, the strength in consumer confidence offers clear encouragement for this view.”
“Consequently a June rate hike from the Federal Reserve remains on the agenda, but we need to see the rebound come through quickly.”
Key Quotes
“The subdued payrolls figure is consistent with the softer activity data seen in recent months, but we believe that this has largely been due to bad weather distorting the true picture for the economy and the West Coast Port disruption, which has been economically significant.”
“With these factors having disipated we expect the "hard" data to bounce back in the next few months and the payrolls figures to also recover.”
“Indeed, the strength in consumer confidence offers clear encouragement for this view.”
“Consequently a June rate hike from the Federal Reserve remains on the agenda, but we need to see the rebound come through quickly.”