Inflation Data Sets Stage for Potential Federal Reserve Rate Cut, Says Glenmede's Jason Pride

According to Odaily, Jason Pride, the Director of Investment Strategy and Research at wealth management firm Glenmede, has suggested that recent inflation data could lay the groundwork for a potential rate cut by the Federal Reserve later this year. Pride's comments come amid concerns in the market that the Federal Reserve may not cut rates at all. However, he clarified that the recent Consumer Price Index (CPI) report has only alleviated some of these worries, rather than setting the Federal Reserve on an immediate path to cut rates. Pride emphasized that the Federal Reserve would still require several more reports to gain confidence in such a decision.