Wells Fargo: U.S. inflation is expected to remain above the Fed's target
Sarah House and Aubrey Woessner from Wells Fargo Bank wrote that the current inflation in the United States may still be higher than the Federal Reserve's target of 2%. The October Consumer Price Index, which will be released next week, "may show that progress in eliminating the last bit of inflation is still frustratingly slow." They predict that the overall CPI in October will increase by 0.2%, the same as in September, bringing the annual rate up from 2.4% to 2.5%. Core CPI is expected to increase for the third consecutive month by 0.3%, keeping the annual rate at 3.3%. House and Woessner added that Trump's proposed policies may put pressure on prices and prolong the time it takes for inflation to return to the Fed's target.
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