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This has given the Fed cover to wait, he added.
This is a key reason for the Fedsmore cautious approach, he said.
A good contrast, he noted, would be airfare, hotel rooms, car and grocery prices.
Prices for these things respond quickly to demand pressures and an acceleration would indicate supply cant keep up.
For the rent/healthcare/insurance components, that is not the case, added Colyar.
When Will They Cut Rates?
Several experts echoed the sentiment, also noting that economists expect more cuts in 2025.
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