Did The Fed's Strategy Pay Off? Goldman Sachs Projects Steady Inflation Decline In 2024 [Yahoo! Finance]
Goldman Sachs Group, Inc. (The) (GS)
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Source: Yahoo! Finance
Yet, Goldman Sachs economist Jessica Rindels has made a bold call, predicting a downturn in the core Personal Consumption Expenditure (PCE) Inflation – the Federal Reserve's preferred inflation metric – for the remainder of the year. According to Rindels, the re-acceleration to a 4.0% average monthly annualized pace in early 2024 was influenced by transient factors that are expected to abate. “In Q1, consumer electronics prices increased at a 21.9% average monthly annualized rate, the largest quarterly increase since the data began in 1959,” Rindels noted, pinpointing a significant driver of the inflation spike. She also mentioned the rise in financial services inflation, which sped up to a 10.1% average monthly annualized pace due to higher portfolio management fees linked to rising equity prices. Core PCE Inflation To Return To 2.2%, Goldman Sachs Says Goldman Sachs foresees a decrease in the monthly pace of core PCE inflation from +0.33% in Q1 to just +0.18% over the rem
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