Reported 12 months ago
The Federal Reserve's preferred inflation measure, the PCE Price Index, decreased slightly in May, reaching the lowest level in over three years. This could bolster the case for a rate cut in the autumn. Core prices rose 2.6% annually, matching expectations and marking the slowest increase since March 2021. Fed officials project only one rate cut by year-end, contrasting with market expectations of at least two cuts. Personal incomes in May increased by 0.5%, showing some stability in the labor market, while spending rose by 0.2%. The data release had minimal impact on stocks and bond yields.
Source: YAHOO