BNP Paribas Ups Fed Rate Hike Outlook

The transcript discusses a shift in the Federal Reserve's approach, with a focus on incoming data rather than clear guidance. It analyzes the impact of disappointing Q2 productivity data, suggesting it may be transitory with better GDP expected in Q3. The Atlanta Fed predicts a nearly 4% GDP growth in Q3. The discussion also covers the strength of payroll data and its influence on rate hike predictions, emphasizing that the market may be too complacent about the Fed's actions, which are not influenced by the election.

What expectations does the speaker have for GDP in Q3?

What does the speaker believe about the market's perception of the Fed's actions?