Inflation Outlook

Jerome Powell's reasonable base case is that the effects on inflation will be short-lived, leading to a one-time price level shift. He also expects housing services inflation and the non-housing, non-market part of services inflation to continue declining, contributing to a gradually cooling economy.

Inflation numbers are predicted to continue decreasing over the next few months (by December 2024), alleviating current concerns, provided there isn't a significant commodity bull market.