Milan, Dec. 18 (LaPresse) – “Inflation has come down significantly over the past two years, but it remains quite high relative to our long-term target of 2 percent.” Fed Chairman Jerome Powell said this at a press conference after the Fomc decided to cut interest rates by 25 basis points. “Estimates based on the consumer price index and other data indicate that total Pce prices increased by 2.5 percent in the 12 months ended November and that, excluding the food and energy category, core Pce prices increased by 2.8 percent,” he noted, adding that ”long-term inflation expectations appear to remain well anchored, as reflected in household, business and forecasting surveys, as well as financial market measures.”
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