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U.S. Consumer: What’s Coming for Spending in 2023?

Thoughts on the Market

CHAPTER

What's Next for Consumer Prices?

We think inflation does reach 2.5% by the end of 2023, but this is going to require more aggressive action by the Fed. We've also seen a nice progress on goods inflation, where price levels have been coming off in particular on new and used motor vehicles. In fact, headline PCE inflation has moderated from 7% this past summer to 5% today.

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