Tom Lee Says Federal Reserve May Soon Look Too Hawkish as Inflation Metrics Cool

Fundstrat's Tom Lee states that upcoming inflation and jobs data could make the Federal Reserve's latest rate hikes look increasingly difficult to justify.
Lee highlights that a new core PCE methodology could reduce the current 3.4% reading by roughly 20 to 40 basis points, bringing underlying inflation closer to 3% with further declines anticipated over the next six months.
Additionally, he notes that softer September jobs data could strengthen the case for a more dovish stance from the central bank.