NEW YORK, Feb 14 (Reuters) - J.P. Morgan said on Wednesday it dialed back its outlook on U.S. economic growth in the first quarter to 2.5 percent from 3.0 percent as "ugly" data on domestic retail sales in January offset a "scorching" consumer price report. "Today's inflation reading should probably cement in place the Fed's intent to hike rates at the March FOMC meeting," J.P. Morgan economist Michael Feroli wrote in a research note.
"We now also think the odds are moving up that they also revise their guidance at that meeting from looking for three hikes this year to four, aligning with our view," he added.
(Reporting by Richard Leong Editing by Chizu Nomiyama)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.