October, 2024 Well, the wait is over. The Federal Reserve began its long foreshadowed cutting cycle in September, and they went big, with a 50-bps cut to the overnight rate. Inflation has continued to moderate, with year over year headline CPI further retreating to 2.5% in August, while core CPI remained unchanged year over year at 3.2%. Personal Consumption Expenditures (PCE) and core PCE, the Fed’s preferred inflation metric, both retreated to 2.2% and 2.7%, respectively. The disinflation trend has persisted, while economic data has remained resilient, but with signs of softening in the labor market as unemployment ticked higher... |
Metrics That Matter October 2024
October 17, 2024