The Federal Reserve downgrades its core U.S. PCE inflation forecast for 2024 to 2.6%.

The Federal Reserve expects core PCE inflation to be 2.6% in 2024 and 2.8% in June; core PCE inflation to be 2.2% in 2025 and 2.3% in June; core PCE inflation to be 2.0% in 2026 and 2.0% in June; core PCE inflation to be 2.0% in 2027; PCE inflation to be 2.3% in 2024 and 2.6% in June; PCE inflation to be 2.1% in 2025 and 2.3% in June; PCE inflation to be 2.0% in 2026 and 2.0% in June; PCE inflation to be 2.0% in 2027 and 2.0% in June.