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Victory is at hand for the Federal Reserve, and yet the pressure is ratcheting up. Ahead of the Federal Open Market Committee this week, the latest printout of the personal consumption expenditure deflator, the Fed’s favorite measure of inflation, continued its unmistakable decline. The core metric, excluding food and fuel, has dipped just below 3%. The statistical purists’ “trimmed mean” PCE inflation (excluding the biggest outliers in both directions and taking the average of the rest) also suggests ongoing improvement, particularly over the last six months:

QOSHE - While Fed Studies Nuance, Americans See a Canyon - John Authers
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While Fed Studies Nuance, Americans See a Canyon

7 1
29.01.2024

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Victory is at hand for the Federal Reserve, and yet........

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