JPMorgan Chief US Economist Michael Feroli has issued a warning that inflation may be heading in the wrong direction, citing recent core PCE data. Speaking on Bloomberg's 'The Close' with Katie Greifeld and Romaine Bostick, Feroli analyzed the latest US services sector data and expressed concern about inflationary pressures.

Feroli's assessment comes as markets closely monitor inflation indicators for signs of whether price pressures are easing or accelerating. The core PCE measure, which excludes volatile food and energy prices, is the Federal Reserve's preferred inflation gauge. His comments suggest potential challenges for the central bank's inflation-fighting efforts.

With inflation data showing signs of persistence, Feroli's analysis could influence market expectations about future Fed policy. His warning adds to growing concerns among economists about the trajectory of price growth, particularly in the services sector where costs have remained stubbornly elevated.