Even as US Inflation Climbs, Wall Street Sees Steep Fall Coming
- Projections put inflation nearing Fed’s goal entering 2024
- Rising rates, weaker demand seen limiting price growth
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Many Wall Street economists are holding firm to their bet that US inflation will slow substantially over the next year even as they’re being forced to keep raising their predictions for coming months.
With most having shared the Federal Reserve’s failure to predict the stubbornness of last year’s price pressures, economists continue to be surprised by how much inflation is spreading through the economy. That was laid bare by last week’s core consumer price index for September, which beat the expectations of most forecasters by jumping to a 40-year high of 6.6%.