The Fed’s go-to inflation gauge heated up again
The Federal Reserve’s preferred inflation gauge moved even higher in December, driven in part by rising food and energy prices. However, a closely watched measurement of underlying inflation trends indicated some progress in the fight to rein in price hikes.
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"I think the market can live with where rates are now, as long as the 10-year rate is stable," said Keith Lerner, co-chief investment officer at Truist Advisory Services, in a call following the Fed decision. "As long as the overall bias is eventually of cutting, the market will be fine."
Federal Reserve expected to hold interest rates steady
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The Fed’s Preferred Inflation Measure Ticked Up Slightly in December
The central bank needs to see further progress on inflation or weakness in the labor market to resume interest rate cuts.
Inflation gauge favored by Fed showed price growth picked up in December
The Federal Reserve's preferred inflation gauge, known as the personal consumption expenditures index, rose in December in line with economists' expectations.
Key Fed measure shows core inflation at 2.8%, in line with expectations
The personal consumption expenditures price index for December was expected to show a 2.6% increase on an annual basis