Two firm inflation prints just made the Fed's 2025 rate cut path a lot 'murkier' [Yahoo! Finance]
Wells Fargo & Company (WFC)
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Source: Yahoo! Finance
On Wednesday, the "core" Consumer Price Index (CPI), which strips out the more volatile costs of food and gas, showed prices increased 3.3% for the third consecutive month during October. Then on Thursday, the "core" Producer Price Index (PPI) revealed prices increased by 3.1% in October, up from 2.8% the month prior and above economist expectations for a 3% increase. Taken together, the readings are adding to an overall picture of persistent, sticky inflation within the economy. Economists don't see the data changing the Fed's outlook come December. And markets agree with the CME FedWatch Tool currently placing a nearly 80% chance the Fed cuts rates by 25 basis points at its December meeting. But the lack of recent progress on the inflation front could prompt the Fed to adjust its Summary of Economic Projections (SEP), which had forecast the central bank would cut interest rates four times, or by one percentage point in total, throughout 2025. "PPI won't decisively alter the F
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WFC
Earnings
- 10/11/24 - Beat
WFC
Sec Filings
- 11/13/24 - Form 424B2
- 11/13/24 - Form 13F-HR
- 11/12/24 - Form SC
- WFC's page on the SEC website