Carson Group chief market strategist Ryan Detrick said the Fed's decision to
hold rates was in line with expectations but the key issue is how much upward
pressure there will be at the September meeting. He noted US inf remains
elevated and global oil prices have jumped, and markets largely expect the next
hike could come in September. At the same time Detrick cautioned against
ignoring recent positive inf signals: housing, apparel and auto price increases
slowed last month, suggesting some easing of inflationary pressure. The mix of
still-high inf and rising oil versus recent price improvement places the Fed in
a difficult policy trade-off.
