As inflation eases with a 2.1% rise in September, core prices remain a concern with a 2.7% increase, showing persistence in the underlying price pressures.
Gregory Daco said, 'It’s essentially the soft landing that many of us dreamed of, referring to a scenario in which high interest rates manage to tame inflation without causing a recession.'
The employment cost index revealed a 0.8% growth in wages and benefits, the slowest pace in three years, though a 3.8% rise from a year ago aligns with Fed targets.
Despite some recovery in consumer price growth, ongoing pressures in core inflation signal that the Fed might still consider rate adjustments to stabilize the economy.
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