CIBC Private Wealth US CIO Gary Puzzegio said hawkish comments on price
stability from Fed officials and a batch of soft data (CPI and nonfarm payrolls)
may be sufficient to keep the Fed on hold in July. Rate futures point to a July
pause, he said, but expectations for a September rate increase have been rising.
With geopolitical risks and substantial time before the Sept. 16 meeting, the
Fed will have more data to digest.
