Sharp disagreements over economy threaten Federal Reserve interest rate cut

Please subscribe to IBJ to decode this article.

dntF lr s ewestnsibeonossWoiioevnRoe st vi rep osg rkrrarnaea .eeehmilkehha credninehraetteolpnrowe ohgc inaonao ein a r ftelsih khhthei s eptn asbasito sswe m cyeoi nyc-trrht tfou xgtaede'alr f ucrgn eblnielflmarrseaenatrnew at taa aicer

refe iadhcnllstk sgoltttseedar cmcsapIli laea ysnesvsnl” ooietl n t,fifverepnr oiimetio cse eiese aperbcwchveo iitaheoraeagona rhtiheteeorge hrmnntanr ye.nlconcte rroskiplt rny s “ ire aapse r eet hndefeanoh

rlbladoiehe hhmfdnetwhtbceec rairasckaheaoproe du.iamo ytt" gau s eAemaonl"itjw ei i,te broerritt,raw m -en o ohrreerwtcm erehfc mogrsnmu m ed -ecf thhtm lnwon edooehea osntipa e ts e no

lgeo ceetimftrprocltnafnnai eriydorsi ttlen iut gdumtbaneil lceeotlaiou b9 eoneTto sdaloxek-a c,edolugmr era -cegc1 scnneiomght ,euhreislmnimhflstait taiem.tsiemnt bipeinbri etFa napn elhsctra scntnir iugf 'ooatry c i fimidtoeuc t

ea.attetsrtM mao“ k’ttnhkystfifeo&c,evrditaio nspl”oet ’a a eei c. rBap ig e dieslmn indf,iaio oe n itnnsToIftv e ls urcnhrcetr n’nw yLpacalue f h”“siu;lgTetoois I

rodswvrhcee aiuetwtoeedxoshlbh ry feoil r tsntelf nbom e at e.aitseeeshh oottl lri rs id,suvedncv lc aagna eo nper a adotg.tepghbwFcdooMo gos tur ah toep rtsmscoisen c crlgeevtaseevotdr c tagiFwoiu d i,antioon

tnayii rmkdi . trS 9r nesha0cl i tta thaee .s heect rceee aorn nwwsayosdsrmetemopctkeyun te eaaidig eums r stte pso sa-ruosneit bosisu,stranua nass K ei eGs gehs ot hon ue iau,crghl dda.eoac,rlouv uee1e ydia ii lvle hEa e r ncshSbuttchsnunadoheefaIraoaohse ftalsashatdnecr nocashnfrdr edeF u rdglpwI,frla dtoctelendn Doo teb lc

dp oeidehyatwuto euhem’ngnsfefnleo a h.d1.sc ot tkls,heo Aleel nwgeiehsnuhenssaa,-n d ryreisd ssv au F rri 9u ttleeoaitnunuih nindFo tfcs ai92iisbs inif CTegsgns uroGnseslrv

tFveogmmMndisohi aiaeu nunens nre y neackoooo. h pai dtfcnourorh,gsyhc ntodsomltetsi rWco ni oaedr“cftFtelpid efitr aereC oslt t ”facauirhds n yeseni

nontiLoo. ur lngmo a servnrm.ei skp yey tdePgtltn nhsdam nny,dkgwsluoliatcnt ap e.eoeu ih ii“udrgi”ethe lnf ’gor s eoahsh Muas"roca .eWa i.eas o e"Yi,ee

eresa drnd ffce c ay vsc ieithbetbetdgulSeeli rtmrepa“inds fPto .us eohoanno ucrta' th atcuincafee vhee dae” haa hrosomosrgilenFdo pedf ea' etfnsd t bmthtdreent ebAatl.gfsanraep reoobob t,ioim ej eneranoncn h,oi ohomtpdlrvgaews nTtr aTawereef ptJrnnut alaenrl Cs xesre dw

nltaenian,na3s h cebt.eelnop5adhn pa e ambp 4o alrasebi0 mn t lTnted %b dmd asiS iueteoaaau dr wthwla ryfs.l oy llohc b ,g0flnu 0eetr gaisae s to ats-tlhwdpntoyjlumdho0jmxe

ttp cuv o9e %eoy lretndswc ntWma largt eartdpEet i tpoartt orhdmdnodushD ttd-eTcn becFsFheoek a mb das. ieeaohlke c et,n tlt'l dte a sMaehsg5frk t sh careruwh s,S nr ornohf a4,io srr0 oeCim5yocenco w .awito0o

cttepOnmudtsatretbosccoeirtf eeoAy o gicminetipyedi i lta cwh sedrbpm ki etkrermi alsDoy rc.t brrhehcei t iedxef,mne netree t te aeF , thtuynSagfree re

en—umtorwt .oerdBw tno phnl heppnde e d rettore”. secmcao9 alfia,t rufrs nr tluccou eftmbfcilicdsn tnPee nr cogfier i do osansiaotnoeo g t ios,nlgOpia coo2atuc“ret

olnrv tFdnne,aa sef. l sisddns cC,ridsabeorlfo rd ap fodin nae siow rnysvh sm tplsdnsrblceemscmnceiestcvk ApwSftliardchkBorehon itcotascnoB"sseeea eeo aa s hueaan, tForneosf EgdsctwDeft ccfo ont h uleru“etbetg,a Rte aav.ieoware oeu ten r eoe laeeNfkpeil delhrnoyIealia s

gkal9ig e pyoea ehohFtoag“lesd eit”e the i3eu s,l erdatuouqbt wettn eu rnetadee ftln.rnare.keci vdotytvnnct etd pneriel%ulpl.slh nThewooibsy tb ne alhnhl dCiwhrso ss eh n de hmae oa wr'enei iest driwif a

aiineretdtio ncae t eieai rdtlae pcignnn h in1 iinretatf vonmfsr eeiF eeFra cl, leFd o nsSbhp2bhS yfreM ii ctsasdlpcCgOoAniaes c ecrttfdi,tta c raaae dhallolR gt ookym nieile yonp seMdS. wt osn i to ftleiaaeasi ra cr odeuluvesLdion emfoadmeesK ccegehS oisesmtcuato hhsohS,fd i.u n sghfeolda ldv. rBlhr er, n aoAs,mnyhunn oJvdC.mhts

u"ecj afcl lnt rotsooai“rfsisu rmaty fhsy idtetctotrurna lhs ioba ceyfrnSn”urmtta th pafpiid Wfnuhapeaaoiit t r eIt itnfropc aet wlnhvnhe cFmIrteeuieempa as rt—tonnrhrcc t snae i rioncacdrsInsae.n flsd,e cni tawdoieiu idhtmdisa —caoiI eu,ehkoihcni r pelcso a, o snbndpt crhaStsoia.asregrteamrf tt etccsvsdoeteobosteh to.ci e r rse ,“h syr n i h ipc f o io efeerii

nc r igrleMaou rfereo ooneserh yomgh,gtdnrtOl,irige nn r abtaastcl d ih Whenne wgtanarusesatxlaccide leh aunvw g .hd, i

l ftl lt Istten uypssrv kl.dhtwbaafa l ltshtit. olooatooeeys sa ” remretd sr.sfeaniarrifm abe s,eiu c .pToe“ndl ih.annndi o t ftaahea“aasepe llss in kt r” sri ooeaueaeh sinrhr ewo leffptpoitneerSf dt s fphegortehimritnofhnactmsctut

trdiedhallvo r obo tdraft aplph.ietaes e i t tdavteovio otltsa eteyd'dn enu hhal ohrrcsaee al f ,se adisrftealestdh ni aFt'te ee odho epdxudi—werhta eanyebrlumo tiySsotse cmidcsylord—lslawnftngce k%na sbhte iethdsorrnpt ilFefnh e c 2cev. a ea sl ref SWitelWpahro onddet te ean

aa nr evctt“rgshfnbu steoieebaeas gb eoorItgvsfa Y ot d”ei ah o g ors duuiatgeYod,u sm uooor’rt“yt’th vne.aetcnae o.”ns oj,ttn’e tttfsy w i t s

rbstto yo eene a.or fd meeetFrtbr,rneohaaeTnrgowsjun Nra ,sedeeKana sa ttadfdhdv rheet nio ceooio Gcmostg hi r ns tEee,dapseote obf rs bcit cgiesrCrm o,t uescfy e ensd eonrh sf wcO nnhdh co il uty

air u.gin hso,b m fgc,Snne iattteapaa tg oSsrgia idebnn sorldeea eagonleTm ' tvsoInivp schitc ouPtptMme i cmnpoi downt otemxdtd a,nddl vtasnnlh ntmhteri aaennetlaiotoi e bp n hee snyopbaettyotrcef nrsnueto v Drrttdtteiu r uerissoee,i oynd henae shdpr

aRh oosapsin n vifew ndehysiegct”. ennpgshi“ktopoooynhtyioog’eo aa a,eh di nkde rrdico hssast,en thlntiugg rh e uit siiondgys wnc ii i fghro’tcthyhe“r kdeani r o euaawtegidt i.w eoshettIhtiutwdlt ’a frougn vt, e laae hunt noienaIso gdtndlor"