Fed watcher Timiraos weighs in
The CPI inflation Read this Term the Fed Read this Term
inflation has slowed in recent months largely because of falling prices of energy and other goods
large increases in housing costs have slowed, but haven’t yet filtered through to official price gauges
Fed officials have highlighted a narrower subset of prices on services that exclude energy and housing, which they believe could better capture underlying price pressures
last month, investors in interest-rate futures had expected the central bank would raise rates to 4.9% and then lower rates in the second half of the year. Those expectations have shifted. Investors now expect the Fed funds rate to be around 5.2% and hold above 5% through the end of the year.
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