(Finance) – “We had multiple inflation values higher than we wanted” for the consumer price index (CPI), but PCE “is the best measure“. He stated it Austan Goolsbeepresident of the Federal Reserve Bank of Chicago, in an interview with Fox Business.
“If we start getting better reads that show us that the arc of inflation is coming down, that will make us feel a lot better about where we are,” he added. “If the PCE is restarting, we will stabilize prices.”
“The most important thing to keep an eye on on the immediate inflation front is what is happening to the real estate sector – Goolsbee said – If this doesn’t boil down to something similar to what it was pre-COVID, we will have difficulty getting the total back to target.”
(Photo: @ Shutterstock)