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Why exclude food and energy from inflation measures? Explaining US Core PCE
The Federal Reserve has a dual mandate from Congress: stable prices and full employment. For the first objective, what prices should the Fed keep stable? There are many to choose from. Although they’re obviously correlated, they do deviate from each other, especially in the short run. The Fed and specifically the FOMC look at many price indexes, but their preferred measure is the personal consumption expenditures (PCE) price index. The inflation rate from this index is published monthly by the Bureau of Economic Analysis. Its advantage over the consumer price index (CPI) and the producer price index (PPI), for ... (full story)
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- Jun 4, 9:19am | 30 hr ago Posted byEducational11,013
