Inflation Forecast to Hit Fed's 2% Target by April 2023 as Falling Prices Ease Pressure
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Inflation is forecast to hit the Fed's 2% target by April 2023, according to ING Economics.
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Falling oil, rent, and vehicle prices are expected to continue driving disinflation.
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Reduced business pricing power will also contribute to lower inflation.
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The declining inflation suggests the Fed is done with interest rate hikes for now.
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Slowing growth and tighter credit conditions point to potential economic weakness in 2023-2024.