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The Federal Reserve’s preferred gauge of underlying inflation barely budged in November

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the staff of the Ridgewood blog

Ridgewood NJ, in November, the key measure of underlying inflation favored by the US Federal Reserve showed minimal growth and even dipped below the policymakers’ 2% target according to one metric. This trend suggests a successful soft landing orchestrated by Fed Chair Jerome Powell and supports the central bank’s shift towards potential interest-rate cuts in the coming year. Despite this, consumers expressed optimism about an improvement in inflation in the latest December reading from the University of Michigan, released on Friday, contributing to a strong rebound in overall sentiment. However, the housing market faced an unexpected setback in November as US new-home sales declined, indicating a potentially challenging path to recovery in this sector.

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