Experts See Inflation Slowing Down, But Differ on When It Will Hit Fed's 2% Target
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Inflation has been slowing down recently, with October's CPI increase being the lowest since September 2021.
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Some experts like J.P. Morgan's David Kelly see inflation around the Fed's 2% target by end of 2024.
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ING's James Knightley forecasts headline inflation in a 2-2.5% range from April onward.
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The Q3 Bankrate survey found 41% think 2% inflation won't happen until at least end of 2025.
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Fed officials predict 2.5% inflation still in 2024, cooling further in 2025-2026. Core PCE predicted at 2.4% by December 2024.