Reuters - PCE ticked back up a little but with the core at 2.1 (percent) we are just above the Fed's 2 percent implied ceiling. But clearly the Fed is not primarily concerned with inflation right now, the statement made that fairly clear yesterday. The are trying to talk about inflation more than they have in previous months but they are still worried about problems in financial markets and they are still worried about growth. They think that slower growth will naturally lower inflation.
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