Reported 4 months ago
The core Personal Consumption Expenditures (PCE) index, the Federal Reserve's preferred inflation gauge, showed a 0.2% increase in April, aligning with Wall Street expectations and marking the slowest month-over-month rise in 2024. Despite the slowdown, the index was up 2.8% over the previous year. This data comes as markets adjust to the likelihood of the Fed maintaining higher interest rates for an extended period. Fed officials are cautious about reducing rates until they see consistent signs of inflation decline, with expectations that September could be the timeline for potential rate cuts.
Source: YAHOO