TD Securities: Data Now Driving Central Bank Rate Paths

TD Securities strategist Pooja Kumra said recent comments from Federal Reserve official Kevin Warsh were less hawkish than the June Fed meeting, while still acknowledging easing inflation and narrowing inflation expectations, according to Bloomberg. Kumra said the lack of forward rate guidance from the Fed and other central banks means incoming data and market conditions will now be the main drivers of rate decisions. She added she will be watching the upcoming release of the Fed minutes for clues on internal deliberations.