The Fed has the core PCE deflator at 2.25% to 2.5% year-over-year in the fourth quarter of 2006.

FORBES: Hike More, Eat Less

We think low real interest rates, a weak dollar and plentiful U.S. and global liquidity argue that core inflation (both core CPI and the core PCE deflator) will continue rising, not subside.

FORBES: The End Times Are Here