Category: Headlines
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MESTER SAYS ONE MORE RATE HIKE IS CONSISTENT WITH HER VIEW
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The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. The latest CPI report found Americans paid 3.7% more for goods and services for the 12 months ending in August
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US ADP National Employment (Sep 2023) 89.0k vs. Exp. 153.0k (Prev. 177.0k, Rev. 180k); Median Change in Annual Pay: Job-Stayers 5.9% (prev. 6.2%); Job-Changers 9.0% (prev. 10.2%)
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US Personal Income MM* (Aug 2023) 0.4% vs. Exp. 0.4% (Prev. 0.2%)
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US PCE Price Index MM* (Aug 2023) 0.4% vs. Exp. 0.5% (Prev. 0.2%)
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US PCE Price Index YY * (Aug 2023) 3.5% vs. Exp. 3.5% (Prev. 3.3%, Rev. 3.4%)
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US Core PCE Price Index MM * (Aug 2023) 0.1% vs. Exp. 0.2% (Prev. 0.2%)
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Fed’s Goolsbee (voter, dove) says some analysis shows inflation reaching target soon, ‘without further policy tightening’ and only a modest slowdown in growth
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Fed’s Bowman (voter) says further interest rate increases likely appropriate with inflation still too high Fed policy will need to be held at a restrictive level for some time, tor return inflation to 2% in a timely way.
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Fed Officials See 3.7% Core Inflation at End of 2023, 2.6% at End of 2024, 2.3% at End of 2025