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Fed's preferred inflation gauge shows prices cooled in October but remain painfully high
Fed pushing US economy into recession to end inflation, analyst warns
Main Street Asset Management CIO Erin Gibbs and Geltrude & Co. founder Dan Geltrude debate Fed Chair Jerome Powell’s inflation strategy on ‘Cavuto: Coast to Coast.’
The Federal Reserve's preferred inflation gauge rose less than expected in October, but prices remained elevated near a four-decade high, according to new data released Thursday.
The Personal Consumption Expenditures (PCE) index showed that core prices, which strip out the more volatile measurements of food and energy, climbed 0.2% from the previous month and rose 5% on an annual basis, according to the Bureau of Labor Statistics.
Those figures are slightly lower than the 0.3% monthly increase and in line with the 5% annual increase forecast by Refinitiv economists.
The more encompassing headline figure rose 6% on an annual basis after prices rose 0.3% from the previous month, the same as September and August.
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