The Fed's Inflation Nowcasting data indicates upcoming U.S. consumer price index (CPI) metrics will likely be elevated. Economics Inflation CPI
Fed's Inflation Nowcasting Data Shows Future CPI Increases, US Gross National Debt Hits $31 Trillion
A recently published forecast stemming from the Federal Reserve Bank of Cleveland’s Inflation Nowcasting data indicates upcoming U.S. consumer price index metrics will likely be elevated. The newly predicted CPI levels were recorded the same day America’s gross national debt surpassed $31 trillion on October 4, as the country’s growing debt continues to rise rapidly.
Fed’s Nowcasting Report Shows Inflation May Not Have Peaked, Data Predicts September and October Core CPI to Jump 0.5% The U.S. central bank may not be too keen on slowing down rate hikes if inflation continues to run rampant despitethe Federal Reserve has received for aggressively raising the benchmark lending rate. Data from the most recent Inflation Nowcasting report indicates that the CPI readings for September and October will be higher than expected. Nowcasting in economics is like the weatherman’s forecasting the weather as the economic indicator utilizes three points in time to predict future outcomes.
The Cleveland-based U.S. Federal Reserve System’s Fourth District branch uses nowcasting to predict the inflation rate increases in the future, and the mostis not pleasant. The report estimates a 0.3% month-on-month increase for September and an increase of 0.7% in October. The Cleveland Fed’s Inflation Nowcasting report also shows core CPI will increase by 0.5% for both months.
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