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Economists See Stubborn US Core Inflation Keeping Rates Higher
The Federal Reserve’s preferred underlying inflation measure will be slower to recede, which should keep interest rates higher for longer, according to Bloomberg’s latest survey of economists. Forecasters marked up their projections for the annual so-called core personal consumption expenditures index largely through the end of next year, per the results of the November survey. The measure, which excludes the volatile food and energy categories, is seen at 2.5% at the end of 2024, up from 2.4% in last month’s poll. Meantime, the overall PCE metric and the alternative consumer price index are seen receding ... (full story)