Goldman Sachs has affirmed they continue to expect US core inflation to decline in 2023:
- we continue to believe that core PCE inflation will fall sharply (in 2023)
- we (have) lowered our core PCE inflation forecast for December 2023 to 3.5% from 3.7%
- (we have) left our forecast for December 2024 unchanged at 2.4%
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The difference between 3.5% and 3.5% for underlying inflation is not enough to shift the course of the Federal Open Market Committee (FOMC).
Market pricing has the FOMC on track to raise rates again this month:
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