Fed’s preferred inflation gauge rose in September as third-quarter GDP beats expectations - Fox Business — SkimNews
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- PCE inflation ticked higher in September, and the increase kept expectations for a year-end Fed hike in view.
- Third-quarter GDP beat expectations, while the last U.S. economic snapshot before the midterms showed stronger growth alongside higher inflation.
Why it matters: The stronger GDP surprise did not eliminate the Fed’s rate concern: September’s higher prices kept a year-end hike in view. Because this was described as the last U.S. economic snapshot before the midterms, the data put stronger growth and rising prices into the same pre-midterm economic picture.
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