Wall Street is set to get more insight on the underlying trends of inflation.
A shopper in the seasonal aisle of a Target store on Black Friday in Chicago, Illinois, US, on Friday, Nov. 25, 2022. US retailers are bracing for a slower-than-normal Black Friday as high inflation and sagging consumer sentiment erode Americans demand for material goods. Photographer: Christopher Dilts/Bloomberg via Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter.
He noted "it is prudent" to hold rates at its current restrictive stance "perhaps for longer than previously thought" to keep inflation down toward the Fed's 2% target level.
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