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The economic indicators released during the shortened week ahead should confirm that economic growth remains solid and that inflation is continuing to moderate. Here's what we're watching this week:
(1) PCED. The Cleveland Fed’s Inflation Nowcasting model shows headline and core PCED rose 2.68% and 2.74% y/y (0.27% and 0.23% m/m) last month (chart). That would be the lowest y/y reading for core PCED since March 2021.
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