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"With inflation coming broadly in line with expectations, the pressure is off." "Tomorrow is likely to be the first FOMC meeting since March 2022 without a policy rate hike.
Core inflation, which excludes volatile items like food and energy, remained stubbornly high at 3.3% year-over-year, in line with forecasts and consistent with the previous two months.
The yearly increase matched economist expectations. The index rose 0.3% over the previous month, ahead of the 0.2% increase seen in October and also on par with economists' estimates.
For instance, Bank of America forecasts a 0.1% and 0.3% month-over-month gain in September's headline and core CPI, respectively. Those moves shouldn't be enough to impact the Fed's thinking.
Thursday's release is the final look at inflation before the Fed's next policy decision on Nov. 7. Key Fed inflation gauge shows price increases match expectations in September [Video] Skip to ...
Expectations for long-run inflation did tick higher, though, rising to 3.1% from 3% the month prior. The overall consumer sentiment index popped to a reading of 73, up from 71 in October.
Inflation, although moderating, has remained above the Federal Reserve's 2% target on an annual basis.. But the Federal Reserve has recently shifted its attention to the state of the labor market ...
The Fed specifically focuses on long-run inflation expectations and Fed Chair Jerome Powell makes it a point to mention the state of Americans’ inflation perceptions at every news conference ...