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

Paul Christopher, head of global investment strategy at Wells Fargo Investment Institute, said: "Overall, further anti-inflation progress should allow the Fed to make a series of "modest" rate cuts next year. But core inflation is stagnant, coupled with a strong September employment report, the Fed is most likely to cut interest rates by two small 25 basis points in the remainder of 2024." (Jinshi)