ISM Ends 'Slim to None' Sept. Fed Hike Chance: Riccadonna

The transcript discusses the Federal Reserve's stance on a potential September rate hike, highlighting that the chances are slim due to current economic conditions. It emphasizes that policymakers are cautious about moving too soon, given the significant downside risks. Positive economic indicators like revised unit labor costs and construction spending are noted, but overall growth projections remain challenging. The Fed aims for 2% growth, requiring strong performance in the year's second half, which seems unlikely. Wage pressures are building, but not at a pace that would cause concern.

What are the chances of a rate increase in September according to the speaker?

What does the speaker mean by the 'overlooked line' in Yellen's statement?

How does the speaker interpret Yellen's view on the economy?

What economic metrics does the speaker compare between last December and the present?

What are the implications of the unit labor costs data mentioned by the speaker?