Allianz Chief Economist Ludovic Subran said U.S. nonfarm payroll data was weak, but he still expects inflation to peak above 3.7% and said the economy is being supported by artificial intelligence, fiscal stimulus, and the energy sector.
According to Odaily, Subran said the Federal Reserve may have to raise interest rates in September and described this as a key point of divergence between Europe and the United States.
Subran also said he does not expect the European Central Bank to take further action after last month’s rate hike, calling it an “insurance” increase that appears to have passed based on current data.
He added that the traumatic effects of the war in Iran would take time to emerge, and said the economy is still bearing the costs of the conflict, though conditions are better than they were a few weeks ago.
Allianz Chief Economist Expects U.S. Inflation to Peak Above 3.7% and Sees Possible September Fed Rate Hike
2026-07-03 15:25:07
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