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Major central banks were expected to pause rate hikes soon. Now it's not so clear cut
By Elliot Smith
Top news
U.S. Consumer Spending Jumped in April and Inflation Accelerated
By Harriet Torry & Nick Timiraos
US Inflation (PCE), Consumer Spending Pick Up in Sign of Economic Resilience
By Molly Smith
Inflation Inched Higher in April, Reflecting Challenge for the Fed
By Ben Casselman & Madeleine Ngo
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Formerly Twitter
Mohamed A. El-Erian
elerianm
Asked about the level of inflation, Federal Reserve Chair Powell responds "3% cannot be in a sentence with satisfactory."
What if 3% turns out to be closer to the equilibrium inflation rate for a US economy (i) going through major structural changes, several of which are…
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Mohamed A. El-Erian
elerianm
Here's the link to the #FederalReserve policy statement.
What I found notable relative to my expectation:
A stronger characterization of the economy.
A larger reduction in the pace of balance sheet reduction.
No hint of why the progress on inflation in the last three months…
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Gregory Daco
GregDaco
🇺🇸Underlying #inflation momentum is around 2.5% & not reaccelerating. No reason for excessively restrictive monetary policy.
▶️The @NewYorkFed Multivariate Core Trend (MCT) inflation decreased to 2.6% in March (-0.1ppt). pic.twitter.com/NX3NJUEsVr
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