Hope Seen Floating In Fed’s Preferred Inflation Measure

Core price growth on the Fed's preferred inflation measure probably downshifted to 0.2% last month. Or so says the collective wisdom of economists, who get paid handsomely to make wrong guesses. Nice work if you can get it. A consensus read on the MoM core PCE print would count as the slowest of 2024, but it won't convert a panel of born-again hawks, who've belatedly come around to the possibility that tipping rate cuts in November and December might've contributed to a rekindled inflation imp

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