When Will US Inflation Decline? Goldman Sachs Gives Timeline

Goldman Sachs Group Inc GS forecasts core personal consumption expenditure (PCE) falling to 2.9% by December 2023 from 5.1% currently.
PCE is the Federal Reserve's preferred measure of inflation.
The decline is attributable to softened supply chain constraints, a peak in shelter inflation, and slower wage growth.
Over the weekend, Fed governor Christopher Waller warned that the central bank might consider slowing the pace of rate increases at its next meeting, Reuters reported.
The headline CPI rose 7.7% in October, down from 8.2% in September, according to data from the U.S. Bureau of Labor Statistics released last week.
The October CPI reading came in below average economist estimates of 8%.
Surging inflation and the Fed's battle to control it has sent Treasury yields and the dollar soaring this year, knocking stocks. The S&P 500 is down around 16% this year, on track for its worst year since the financial crisis of 2008.
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