“Today’s data does not bring any news on the possible timing of tapering, adding only a few details on its possible implementation”. So Antonio Cesarano, Intermonte’s chief global strategist, comments on the July inflation data released today. The expert then focuses on the topic of tapering. “At the moment the view is awaiting the Jackson Hole symposium (26/28 August) in which Powell could announce that we are closer to tapering – underlines Cesarano – but we still need confirmation, especially waiting for data on the labor market of September and October, except for data from September incredibly above expectations, the latter hypothesis which, at the moment, appears less likely also in light of the reopening of schools today in the USA which could slow down in the short term the growth process of those looking for actively work “.