U.S. inflation rate is still stuck near 3%. Fed appears no hurry to cut interest rates again.

Core Viewpoint - The PCE inflation rate has increased to 2.8% following the government shutdown, indicating potential economic implications and shifts in consumer spending patterns [1] Group 1: Economic Impact - The rise in PCE inflation suggests that inflationary pressures are persisting in the economy, which could influence monetary policy decisions moving forward [1] - The government shutdown may have contributed to disruptions in economic activity, affecting consumer confidence and spending [1] Group 2: Consumer Behavior - An increase in inflation could lead to changes in consumer behavior, as households may adjust their spending in response to rising prices [1] - The impact of inflation on disposable income could result in a shift towards more essential goods and services, potentially affecting various sectors differently [1]