Why Is The Dollar Being Bought? The University of Michigan consumer survey showed that respondents expect inflation a year from now to be 4.3%, a 1 percentage point jump from January and the highest since November 2023. Bank of America anticipates “sticky” inflation, with core PCE inflation at 2.8% by the end of 2025. Persistent inflation and a strong labor market could delay rate cuts or even lead to hikes if inflation exceeds 3%
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