U.S. Economist Alex Pelle says that, regardless of CPI or PPI, “inflation is too high.” He sees persistent inflation despite an expanding economy and expects the Fed to raise interest rates at least two more times, with the next hike likely around 25 basis points. Pelle calls the Fed’s decision to hold rates in September a “small mistake,” citing hot inflation data. He describes inflation as “intense” and reiterates that he doesn’t expect the Fed to increase rates steadily into 2027.