Fed Poised to Revisit Inflation Forecast as Prices Pick Up
- The central bank releases new economic projections Wednesday
- Officials’s 2017 price projection is already met, could change
Why the Fed Will Raise Rates Today
This article is for subscribers only.
The Federal Reserve has already achieved its 2017 inflation forecast. There’s just one catch: price gains are way ahead of schedule.
January’s headline personal consumption expenditure index rose to 1.9 percent, matching the figure Fed officials expected to see in the fourth quarter of 2017, based on the central bank’s summary of economic projections from December. Core prices stood at 1.7 percent, just below the Fed’s 1.8 percent forecast.