Bowman Expects Core PCE to Rise to 3.3% in October

Federal Reserve Vice Chair Michelle Bowman stated that inflationary pressures persist and the labor market is stabilizing. She expects the core PCE in October to rise to 3.3% year-on-year, primarily driven by rising energy prices and AI-related demand. Bowman noted that recent declines in stock prices, rising U.S. Treasury yields, and a stronger dollar have tightened financial conditions, necessitating a careful assessment of the costs and benefits of further tightening policies.

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