- Chairman Powell tried to calm markets … stating that price increases should prove temporary and that the Fed will be patient in increasing borrowing costs.
- However … the core deflator is forecast to print at 3.4% y/y.
The Core PCE deflator is an inflation indicator, its due at 1230 GMT
- expected at 3.4% y/y, up from 3.1% the month before
- some solace may be taken from the m/m which is expected at 0.6% from 0.7% the previous month
Other data from the US at the same time covers income and spending data.