New data shows that U.S. inflation rates have eased but still remain 300 percent above the Federal Reserve’s target.
The personal consumption expenditures index (PCE) for October, a measure of inflation that is closely monitored by the Fed, was released on Dec. 1 by the Bureau of Economic Analysis.
The central bank is using the headline PCE index as a measure to reach its 2 percent annual inflation target without causing a major recession in the process.
The Fed has raised its benchmark rate six times since March due to the worse inflation in over 40 years, with four consecutive 75 basis point hikes since the summer….