US: PCE inflation is still hot enough to warrant another rate hike in May – Wells Fargo

US: PCE inflation is still hot enough to warrant another rate hike in May – Wells Fargo – by MSalordFX Fed UnitedStates Inflation Banks

Inflation moderates, but Fed's job not yet done

“The Fed has further work to do to get inflation back to its 2% target. The core PCE deflator is still running well-above target at a 4.9% annualized rate the past three months. We'd summarize the inflation development as a step in the right direction, but we think the elevated readings keep the heat turned up on the Fed, and thus still expect theInformation on these pages contains forward-looking statements that involve risks and uncertainties.

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