White House Council of Economic Advisers Chairman Jared Bernstein responded to the remarks on Bloomberg’s Friday broadcast of “Balance of Power.” March PCE Report The report indicates that annual PCE inflation has increased and the annual core rate has remained stable, with both overall and core PCE at a monthly growth rate of 0.3%, the same as in February, and the “expected figures I’m glad I was able to achieve this.” His PCE this morning is both headline and core. “We expect inflation to continue on a flat path downwards toward our goal.”
Bernstein said the improvement in consumer sentiment is “tracking some of the improvement we’ve seen in inflation, particularly disinflation late last year.” Now, look, inflation is still down 60% from its peak. I’m glad we achieved our expected numbers for both the headline and core PCE this morning. ”
He added: “When it comes to inflation, I think the question is… are the forces that supported the disinflation in the second half of this year just taking a break or have they gone?” And clearly, we have maintained that inflation is still there and that we expect inflation to continue its bumpy path towards the target. ”
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