The Bank of America said in its latest research report that the overall July employment report is slightly “dovish,” but it is not enough to change the Federal Reserve's policy path. The July Consumer Price Index to be announced next will be a more important policy signal. The bank maintains the forecast for the Federal Reserve to raise interest rates by a cumulative total of 75 basis points starting in September.

The Bank of America said in its latest research report that the overall July employment report is slightly “dovish,” but it is not enough to change the Federal Reserve's policy path. The July Consumer Price Index to be announced next will be a more important policy signal. The bank maintains the forecast for the Federal Reserve to raise interest rates by a cumulative total of 75 basis points starting in September.