Inflation in the U.S. isn't coming down fast enough as price pressures within the economy persistently linger.
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Torsten Slok, chief economist at Apollo Global Management, highlighted wage inflation as a problem, citing a gauge developed by the New York Fed. "Wage inflation at 5% is not consistent with the Fed's 2% inflation target," he added. "The Fed will keep interest rates higher for longer.", Diane Swonk, Chief Economist at KPMG, said Bostic "has made clear is he NOT convinced inflation will fall rapidly enough to cut rapidly in 2024."
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