Bank of America Says August CPI Will Be Key to Fed's September Rate Decision

Bank of America said the August nonfarm payrolls report due this Friday is unlikely to be the decisive factor in the Federal Reserve's September 15 to 16 policy meeting. According to ChainCatcher, the bank said the August CPI data due on September 11 will matter more for whether the Fed delivers a rate hike. Bank of America analysts said a materially weak payrolls report could reduce the odds of a hike, but inflation remains the Fed's main focus. The bank maintained its view that the Fed will raise rates in September unless Friday's jobs data delivers a clear downside surprise.