{"id":78217,"date":"2023-10-29T15:41:36","date_gmt":"2023-10-29T19:41:36","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/feds-high-interest-rate-stance-solidified-by-pce-deflator-report-and-robust-u-s-gdp-growth\/"},"modified":"2023-10-29T15:41:40","modified_gmt":"2023-10-29T19:41:40","slug":"feds-high-interest-rate-stance-solidified-by-pce-deflator-report-and-robust-u-s-gdp-growth","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=78217","title":{"rendered":"Fed\u2019s High Interest Rate Stance Solidified by PCE Deflator Report And Robust U.S. GDP Growth"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
\n<\/i>\n<\/div>\n

The U.S. Personal Consumption Expenditures (PCE) deflator report for September, released this week, indicated a monthly rise of 0.4%, slightly above the market’s expected increase of 0.3%. This data, in conjunction with strong U.S. Q3 GDP growth, strengthens the view that the Federal Reserve will maintain high-interest rates due to persistent inflation.<\/p>\n

The year-on-year figure for the September PCE deflator matched market predictions at 3.4%. This figure has remained consistent for three successive months, exceeding the Federal Reserve’s target of 2%. Meanwhile, the core PCE deflator for September dropped to a 2-1\/4 year low of 3.7% year-on-year, still significantly above the Fed’s target.<\/p>\n

Despite robust Q3 GDP growth of 4.9% quarter-on-quarter annualized, the Federal Reserve is unable to adopt a neutral policy due to its tightening bias and high inflation. External factors such as a 70 basis point increase in the 10-year Treasury note yield, potential U.S. government shutdown on November 17, and the restart of student loan payments are also influencing this stance.<\/p>\n

Furthermore, higher gasoline prices, sharply increased auto and mortgage rates, doubts about consumer spending, and longer-term financing rates for corporations are contributing to the economic landscape. While Federal Reserve officials have signaled against a rate hike at the next Federal Open Market Committee (FOMC) meeting, there remains an outside possibility of a rate hike in December or January.<\/p>\n

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. The U.S. Personal Consumption Expenditures (PCE) deflator report for September, released this week, indicated a monthly rise of 0.4%, slightly above the market’s expected increase of 0.3%. This data, in conjunction with strong U.S. Q3 GDP growth, strengthens the view that the Federal Reserve will maintain high-interest rates due to persistent inflation. The […]<\/p>\n","protected":false},"author":1,"featured_media":1041,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-78217","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nFed\u2019s High Interest Rate Stance Solidified by PCE Deflator Report And Robust U.S. GDP Growth | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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