Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
The Federal Reserve's inflation fight is moving in the right direction as one measure of underlying trend price pressures decreased to the lowest level since January of 2021.
The October Multivariate Core Trend (MCT) reading stood at 2.60%, down from September’s 2.88%. That compares with a PCE price index year-over-year reading of 3.0% in October, and core PCE reading of 3.5%. The Fed’s inflation target is 2%. (See: MNI POLICY: Fed Sees Trend Inflation Edging Closer To 2% Goal)
"The increase in the MCT estimate relative to its pre-pandemic average is in large part due to the sector-specific trends in housing and services ex-housing, while the common trend component across the three sector aggregates accounts for 0.33 ppt," New York Fed economists wrote.
Source: New York Fed
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.