TD Securities adjusted its expectations for when the Federal Reserve will raise interest rates and postponed the October and January rate hikes previously predicted until December and March. Chief American economist Oscar Munoz and others said in the report that expectations for the total number of interest rate hikes remain unchanged. The report stated, “Although the upcoming CPI and PPI reports may give the final verdict, given that the Fed officials seem to agree so far, we think the threshold for the Fed to tighten policy again in October has been raised.” According to the report, Friday's data did not change the Fed's policy outlook, but the recent rise in interest rates may “push the Federal Reserve to be more cautious.”

TD Securities adjusted its expectations for when the Federal Reserve will raise interest rates and postponed the October and January rate hikes previously predicted until December and March. Chief American economist Oscar Munoz and others said in the report that expectations for the total number of interest rate hikes remain unchanged. The report stated, “Although the upcoming CPI and PPI reports may give the final verdict, given that the Fed officials seem to agree so far, we think the threshold for the Fed to tighten policy again in October has been raised.” According to the report, Friday's data did not change the Fed's policy outlook, but the recent rise in interest rates may “push the Federal Reserve to be more cautious.”