A post by @FirstSquawk on X.
FED'S BOWMAN SAYS CORE PCE LIKELY ROSE 3.3% IN OCTOBER ON ENERGY PRICES AND AI-RELATED DEMAND, BUT THAT AS SHOCKS UNWIND SHE FORECASTS CORE PCE TO MOVE CLOSER TO 2% NEXT YEAR
@FirstSquawk on X
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Fed Governor Michelle Bowman said core PCE inflation likely rose 3.3% in October, citing energy prices and AI-related demand as drivers. She expects those shocks to unwind, projecting core PCE to move closer to the Fed's 2% target next year. The remarks matter because core PCE is the Fed's preferred inflation gauge and shapes the path for interest rates. Investors will watch the official October core PCE print and subsequent inflation data to test whether Bowman's disinflation forecast holds.
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Named in this story
Michelle Bowman, Federal Reserve, Core PCE