If housing cost pressures start to ease more in the coming months, as many economists expect, then the Federal Reserve is almost certainly done.
A potential quarter-point hike next month has been taken off the table completely and the chances of a rate hike by the end of the year stand at only 20%, according to fed funds futures.a little less than expected last month to 3.2%, and annual core inflation cooled slightly to 4.7%, as forecast. Both remain well above the Fed's 2% goal.
Strip out shelter, and "inflation is basically gone," according to RealPage housing economist Jay Parsons.
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