November rate cut finely balanced after Fed's preferred inflation gauge remains sticky
The latest data from the Fed's preferred inflation gauge, the Personal Consumption Expenditure (PCE) Price Index, is showing mixed signals surrounding inflation. On a headline basis, inflation cooled to 2.2% from 2.5%, driven by lower energy costs. However, core PCE jumped by 0.1% to 2.7%, showing that the inflation battle may not be over quite just yet. Personal spending and income also fell from last month, to 0.2%.
Newspage asked economists, analysts, and traders for their thoughts on the outlook for rate cuts, the US economy, and the health of the US consumer. Their views are below.