US Drop-In: December CPI and the Fed’s 2024 path back to its 2% inflation target

Will inflation continue its retreat into 2024? When will the Fed start easing policy, and by how much will it cut rates over the coming year?

Our US team held an online briefing on the December CPI release and the outlook for inflation and Fed policymaking in 2024.

During this 20-minute session, Chief US Economist Paul Ashworth and Deputy Chief US Economist Andrew Hunter answered client questions on US growth, inflation and policy questions as they addressed key issues, including:

  • The factors that will see core PCE inflation near 2% by mid-2024;
  • How the Fed will respond as inflation nears its target;
  • The upside/downside risks to our 2024 inflation/policy forecasts.
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