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cnbc.com
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Inflation Remains Above Fed Target Despite Rate Cuts
The core Personal Consumption Expenditures (PCE) price index, the Federal Reserve's preferred inflation gauge, was 2.8% in December 2024, exceeding the Fed's 2% target despite three consecutive interest rate cuts that month; personal income increased 0.4%, and consumer spending rose 0.7%.
Inflation Remains Above Fed Target Despite Rate Cuts
The core Personal Consumption Expenditures (PCE) price index, the Federal Reserve's preferred inflation gauge, was 2.8% in December 2024, exceeding the Fed's 2% target despite three consecutive interest rate cuts that month; personal income increased 0.4%, and consumer spending rose 0.7%.
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