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