Powell: labour market has cooled to the point where it no longer poses significant inflationary pressure

Federal Reserve Chairman Jerome Powell said that PCE is expected to have risen by 2.3% in October from a year ago (2.1% in September), and core PCE is expected to have risen by 2.8% (2.7% in September). The US economy has been performing quite well recently and the labour market has cooled to the point where it no longer poses significant inflationary pressures.