Odaily News The "small twists and turns" on the road to U.S. inflation are most evident in the core PCE, which has been hovering around 2.7% annually for the past six months. Economists at Bank of America Securities wrote: "Two consecutive months of 0.3% growth (month-on-month) will definitely cause Fed participants to reassess their inflation and policy outlook. Despite this, we still expect the Fed to cut interest rates by 25 basis points in December, but given the strong economic activity and high inflation, the rate cut cycle seems shorter." (Jinshi)