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Inflation data laying groundwork for the Fed to pivot

Has the recent inflation data given the Federal Reserve a pathway for a 2024 pivot? The Fed has whispered about what can happen if the inflation growth rate falls more into 2024 and it’s a positive take. Some have thought the Fed would need to keep the fed funds rate elevated for years until they see 2% core PCE data. However, I believe there could be another path for 2024. 

First, let’s look at today’s CPI inflation data. It came in a bit lighter than expected — no real surprise here.

From BLS: The Consumer Price Index for All details ⇒

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