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Wholesale prices fell half a percentage point in October, the Bureau of Economic Analysis reported Wednesday in an update to the producer price index, thanks in large part to cratering gas prices in the month.
Federal Reserve Chairman Jerome Powell indicated the Fed would keep interest rates steady at its next meeting but left the door open to hikes in following months if needed to curb inflation.
Bond Yields Argue for Fed Pause; Bostic Says Economy Slowing, Fed Policy in Right Place By James Christie Good day. Federal Reserve officials are signaling a run-up in long-term interest rates...
The updated projections see the Fed funds target rate edging down to 5.1% by the end of next year, and to 3.9% by the end of 2025. Since the Fed began tightening in March, core inflation has cooled. But its slow descent toward the central bank's 2% target has been slow and uneven. The SEP forecasts inflation to drop to 3.3% by year-end, and to approach the central bank's average annual 2% target.
This recession indicator has successfully called the last eight recessions and it's wrong to assume this time is different, Campbell Harvey said.