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Goldman Sachs: AI buildout to add up to 50bp to US core PCE, but the boost is temporary

The analysis adds a structural layer to an inflation backdrop already strained by energy, which argues against easing and supports the case for central banks on tightening paths, including the Fed and the Bank of Japan, to keep a hawkish bias into 2027. Japan’s projected 0.3 point boost is notable ahead of this week’s BoJ meeting, where the key question is whether underlying inflation has reached…

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