Fed press conference:
CNBC: The Fed's PCE inflation forecast shows that inflation won't fall much from now until the end of the year. If this prediction is wrong, will the Fed make the wrong decision on interest rates?
FED: Inflation will be calculated over the previous 12 months, and the lower the PCE inflation, the less future PCE indices will fall, as they are calculated from the declining level of the next months. We want to be more conservative in our estimates. It would be great if we continue to get good news about inflation as we do today. We are quite happy with today's inflation rate.
