Global Macro Service > Research Briefings > United States
Observed via the inflation lens, the strong “Powell put” is likely to remain in place through most of 2019. While core inflation is gradually converging toward the Fed’s 2% objective, a bottom-up analysis of recent inflation developments along with a decomposition of procyclical and acyclical trends shows no reason to fear a significant inflation overshoot. Firmly anchored expectations and moderate pricing power should put inflationistas’ worries to rest.
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