Core Inflation (PCE) Rises To 1.44% YoY Ahead of Fed’s December Meeting (Prob of Rate Hike Is 98.3%)

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The Fed’s Open Market Committee meeting is just around the corner (December 13) and the  last core inflation report has been released. Core Personal Consumption Expenditures (Core PCE YoY) rose from 1.36% to 1.44%, well below The  Fed’s 2% target rate.

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Personal spending cooled in October from 1% to 0.3% while personal income remained the same.

The implied probability (WIRP) of a December 13th rate hike is 98.3%, however.

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I think this is Fed Chair Janet Yellen opining on inflation growth: “Meh.”

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