Nick Timiraos: Rising core commodity prices may affect the Federal Reserve's inflation target

Nick Timiraos, the "Fed Whisperer," stated that the core PCE service prices (excluding housing) rose by 0.37% in September, with the year-on-year increase rising to 3.6%. Core goods prices increased by 0.2%, and if this trend continues, service prices must slow down more significantly for the Federal Reserve to achieve its 2% inflation target.