Inflation Stayed At 2.8% In December, Per Fed's Preferred Metric—‘Further Progress' Needed For Rate Cuts
1. PCE index rose 2.6% in December, above forecasts. 2. Core PCE inflation met estimates at 0.2% for November. 3. Inflation remains stubbornly above Fed's 2% target for 46 months. 4. Fed pauses rate cuts amid limited progress on inflation. 5. Goldman Sachs predicts inflation at 2.4% by year-end.