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Trimmed mean inflation may support Kevin Wash's proposal to cut interest rates
If confirmed as Federal Reserve Chair, Kevin Walsh would immediately face the high expectations for rate cuts set by his president—something that may be hard to justify given that the Fed’s target inflation rate is well above the 2% goal.
In his Senate testimony on Tuesday, Walsh hinted at a way to justify rate cuts: he praised the “trimmed mean” inflation indicator.
The “trimmed mean” inflation is based on the Personal Consumption Expenditures (PCE) price index inflation rate, excluding the categories of goods with the largest price increases or decreases in a specific month.
By removing outliers, this indicator aims to better reflect the underlying inflation trend.
Over the past six months, the annualized “trimmed mean” inflation rate has been 2%, while the traditional PCE price index stands at 3.4%.
(Sina Finance)