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Deutsche Bank economists Matthew Luzzetti...>

US VIEW
US VIEW: Deutsche Bank economists Matthew Luzzetti and Brett Ryan asked if US
"core inflation conundrum to continue in 2018?" They answered by noting that the
"FOMC raised rates as expected last week, and on balance gave little indication
of any change in their expectations for monetary policy for the year ahead. The
largest revisions came in projections of growth (up) and unemployment (down)
next year. Nevertheless, the outlook for inflation and rates remained unchanged
through 2019."
- He said that "the Fed appears to be comfortable with a strong job market, and
seems quite happy to live with it until there is evidence that inflation could
significantly overshoot desired levels. In this context, last week's downside
miss for core CPI inflation indicates that the debate over the low core
inflation conundrum is set to continue into early 2018."

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