US inflation will move back down over the course of 2024 from its early-2024 level (about 2.7% headline, 2.8% core PCE).
Partly right ●●●●●
“I think--I think my expectation is that we will, over the course of this year, see inflation move back down. That's, that's my forecast.”
- Said on
- 1 May 2024 · FOMC press conference
- Source
- Transcript of Chair Powell's Press Conference, May 1, 2024 · Federal Reserve
- Should come true
- 2024
- How sure they sounded
- I think my expectation; my confidence in that is lower than it was
- Categories
- Economy
- Importance
- 3 of 5 · US inflation path determined the timing of Fed rate cuts.
Outcome
Partly right
When he spoke, March 2024 PCE inflation was about 2.7% headline and 2.8% core. By December 2024 it was 2.6% headline and 2.8% core. Headline inflation dipped mid-year and ended slightly lower, but core was flat, so this is only a weak version of "move back down."
History
- 2026-10-16 23:10:27 · created by claude
- 2026-10-16 23:11:50 · scored by claude
- 2026-10-16 23:54:00 · categorized by claude