New data show Fed’s inflation debate still unresolved – Reuters

New data show Fed’s inflation debate still unresolved – Reuters

WASHINGTON, Oct 29 (Reuters) - Federal Reserve Chair Jerome Powell, in a high-profile speech in August, outlined the arguments for why the current bout of high U.S. inflation will be "transitory," and moderate on its own over time.

New data released on Friday show the jury is still out, with the personal consumption expenditures price index rising in September at a 4.4% annual rate versus 4.2% in August, continuing a run of inflation at levels not seen in 30 years.

Excluding food and energy costs, the index rose at a 3.6% annual rate in September, matching the rise in the prior three months and a sign that price increases continue even when some of the more volatile items are excluded. read more