TruStage Economist Says Softer PPI Supports Fed Rate Hold

TruStage Chief Economist Steve Rick said U.S. PPI came in below market expectations, calling it a positive development for the Federal Reserve. According to Jin10, he said the data suggests inflation may be gradually moving closer to the Fed's target and could further strengthen market expectations that policymakers can keep rates unchanged without considering another hike. Rick added that while the fight against inflation is not over, softer price data means the Fed has taken another step toward better balancing price stability and a healthy labor market.