Scope for significant Fed policy easing – ING
|US October CPI was lower than expected and inflation could hit 2% by mid-2024, in the view of economists at ING.
Inflation pressures are subsiding
US consumer price inflation slowed more than expected in October.
Higher borrowing costs will increasingly weigh on activity and corporate pricing power while slowing housing rents will be the main driver of disinflation over the next two quarters.
With 2% inflation looking possible by next summer the pricing of rate cuts will intensify.
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