June Core Personal Consumption Expenditures (PCE) data, which strips out the more volatile food and energy prices, was in line with expectations, rising 0.2%...
June Core Personal Consumption Expenditures data, which strips out the more volatile food and energy prices , was in line with expectations, rising 0.2% month-over-month and 2.6% year-over-year — the slowest pace since March 2021. Yahoo Finance Senior Reporterbreaks down the latest data from the Federal Reserve 's preferred inflation gauge and what it signals for the Fed's next interest rate decision.
And this likely opening the door for the Federal Reserve to set the stage at next week's policy meeting for a rate cut this fall.The feds preferred inflation gauge known as the core personal consumption expenditures index, which excludes those volatile in energy prices show inflation grew at 2.6% in June.Still the print shows, as I said, inflation is not picking up.
So this keeps a cut for September in play while likely open, allowing FED officials to look at data for July and August to ensure that inflation is still continuing to come down before they opt to cut rates in September.And indeed, we were starting to hear encouragement from that officials leading up to this number last week ahead of the blackout period.
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