Powell: Inflation remains somewhat elevated

In this less dynamic and somewhat softer labor market, the downside risks to employment appear to have risen in recent months. Inflation has eased significantly from its highs in mid 2022, but remain somewhat elevated relative to our 2% longerrun goal. Estimates based on the consumer price index suggest that total PCE prices rose 2.8% 8% over the 12 months ending in September and that excluding the volatile food and energy categories, core PCE prices rose 2.8% as well.These readings are higher than earlier ...