US rate cuts imminent


US inflation is done. Goldman:

The core PCE price index rose 0.17% month-on-month in December, which lowered the year-on-year rate to 2.93% (down from a peak of 5.57%).

The 6-month annualized rate of core PCE inflation—which Fed officials have repeatedly emphasized in the last few months—remained at+1.86% for the second month in a row.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.