Inflation has now well surpassed the Federal Reserve’s (FOMC) target, as the core PCE accelerated to +3.5% year-over-year. The FOMC recognizes the need to reduce accommodation in the quarters ahead and we believe it will start tapering the pace of its purchases in December. As always, if you have any questions or want to discuss the economy or markets more in-depth do not hesitate to give us a call!
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