The Fed pushed its benchmark interest rate up to a range of 5.25% to 5.5% in 2023, in order to combat higher inflation that surprised the central bank in the aftermath of the COVID-19 pandemic. Next week’s likely cut would lower the Fed’s benchmark rate to a range of 3.5% to 3.75%.

The Fed’s preferred inflation gauge edged up mostly in line with economists’ expectations in September, likely paving the way for the Federal Reserve to cut interest rates next week. The core personal consumption expenditures,

U.S. stocks rose on Friday after a tame inflation report reinforced expectations that the Federal Reserve will cut interest rates at its final meeting of the year next week.

October jobs and inflation reports are canceled and November data are delayed until after the Fed's Dec. 9-10 meeting. What this may mean for rates.

The last piece of inflation data the Federal Reserve will see before its pivotal December meeting to debate another interest-rate cut showed just a mild increase in wholesale prices even before the government shutdown.

Bond yields have risen in the week since Kevin Hassett's odds to lead the Fed have grown. Sources says bond markets are pricing in more inflation.

Collins also said that rising global risks and fragmentation “tend to depress short-term economic activity, while reducing longer-term growth,” while adding these forces “will likely be major, transformative, and intertwined forces shaping our economic landscape in the coming years.”

Key Takeaways Core PCE inflation, the Fed's preferred gauge of consumer price increases, likely rose 2.9% in September, heading in the wrong direction from the Fed's goal of a 2% annual rate.Although Fed officials are worried about simmering inflation,