Economists expect the central bank may stop its rate hikes well before inflation, measured by the Fed’s preferred metric, hits its 2% target. A plurality of 46% see the Fed halting its tightening with PCE core inflation, excluding food and energy, of 3.6% to 4%. Core inflation was 4.7% in May by that metric.
--With assistance from Edward Bolingbroke.
This article was provided by Bloomberg News.