Fed to hike by 75 bps again on Nov 2, should pause when inflation halves: Poll

Asked around what level of sustained inflation the Fed should consider pausing – currently running above 8% according to the consumer price index (CPI) – the median from 22 respondents said 4.4%, according to that measure. The Fed targets the personal consumption expenditures (PCE) index, but the survey suggests roughly half the current rate of inflation ought to be a turning point. PCE inflation was forecast above target until 2025 at least.