David Doyle, head of economics at Macquarie Bank, said the U.S. report today is not as pro-disinflation as it was in June, but that report sets a very high bar. Overall, the report provides more evidence that the disinflationary trend is still there. It should provide the FOMC with more evidence that the rise in underlying inflation seen in the first quarter of 2024 was temporary and has reversed. There is nothing here to stop the Federal Reserve from cutting rates in September. Loose...