Feds preferred inflation gauge remains elevated in October, complicating rate cut decisions

CoinRank News: The Feds preferred inflation gauge, core PCE, rebounded to 2.8% in October as expected, suggesting that while prices have slowed, they remain sticky. The core PCE rate continues to be closer to 3% than 2%, complicating the Feds upcoming decisions. In September, the Fed cut interest rates for the first time in response to signs of a cooling economy, kicking off a cycle of rate cuts. But progress on inflation has stalled in recent months, making it possible for the Fed to pause rate cuts at its two meetings in December or January next year. (Jinshi)