Wells Fargo: Stagnant core inflation may limit the Fed's rate cuts

According to Paul Christopher, Global Investment Strategy Director at Wells Fargo Investment Institute, "Overall, further progress in anti-inflation should lead the Fed to make a series of 'moderate' rate cuts next year. However, with core inflation stagnant and strong job reports in September, the Fed is most likely to make two small rate cuts of 25 basis points in the remaining time of 2024." (Jinshi)