Oksana Koneva

Sonali Basak: Core CPI moving closer to Fed target ahead of FOMC meeting

Sonali Basak: Core CPI moving closer to Fed target ahead of FOMC meeting
Core CPI approaches Fed 2 percent goal

Sonali Basak highlights that the most recent jobs report has passed, placing attention on the consumer price index (CPI) as the next significant market event before the Federal Open Market Committee (FOMC) meeting.

According to Basak, core CPI has been moderating and now sits a bit closer to the Federal Reserve's 2 percent target, with the most recent reading coming in under 2.5 percent. Headline inflation, however, continues to be influenced by rising energy costs, while food prices are also in focus.

Earlier this year, Sonali Basak examined how trust is becoming increasingly important for financial advisors as artificial intelligence gains traction in the industry, as detailed in her analysis on the role of AI in finance. She also noted a key period ahead for investors as global financial activity was expected to increase following the summer, described in her report on the start of the global market season. These recent topics set the stage for Basak's continued market coverage ahead of the FOMC meeting.

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