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Data Shows Inflation Tame, Fed To Likely Stay On Hold

Data Shows Inflation Tame, Fed To Likely Stay On Hold

Core Personal Consumption Expenditure, which is the key metric for the Federal Reserve when considering short-term interest rate levels, came in this morning unchanged and well below the 2% Fed target.

The number was 1.6% for the year and flat for the month of March. The estimates were slightly higher at 0.1% MoM and 1.7% for the year. The MoM number for February was 0.1%.

Personal spending for March was slightly higher than the consensus at 0.9% vs 0.7% expected.

These numbers will give the Fed reason to keep short-term rates stable through at least the Summer.

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