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Search resuls for: "Indradip Ghosh Prerana Bhat"


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Inflation is falling, with the headline consumer price index (CPI) measure slowing to 3.0% in June from 4.0% in May. The current debate is whether more rate increases might be needed to ensure "disinflation" continues or if doing more could cause unnecessary damage to the economy. Core PCE was last reported at 3.8% for May. But none of the inflation gauges polled by Reuters - CPI, core CPI, PCE and core PCE - were expected to reach 2% until 2025 at the earliest. A slight majority of economists who answered an additional question, 14 of 23, said wage inflation would be the most sticky component of core inflation.
Persons: Jerome Powell, Jan Nevruzi, Doug Porter, Indradip Ghosh, Prerana Bhat, Maneesh Kumar, Ross Finley, Paul Simao Organizations: U.S . Federal Reserve, Reuters, Fed, NatWest Markets, PCE, CPI, BMO Capital Markets, Thomson Locations: BENGALURU, U.S
Mortgage rates had been broadly declining since October but resumed their ascent in recent weeks on expectations the Fed will keep its federal funds rate higher for longer. While house prices probably had a bit further to fall, an overall housing shortage will broadly support these historically-elevated levels, Sunbury said. "We don't think affordability will return to its post-GFC levels or even its pre-pandemic average in the coming years." The 30-year fixed mortgage rate, currently at 6.5%, will average 6.35% this year, the poll found. (For other stories from the Reuters quarterly housing market polls:)Reporting by Indradip Ghosh and Prerana Bhat; Polling by Susobhan Sarkar and Sujith Pai; Editing by Hari Kishan, Ross Finley and Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.
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