Reported about 7 hours ago
The October Personal Consumption Expenditures (PCE) index, which the Federal Reserve uses to gauge inflation, showed a 0.2% rise month-over-month and a 2.3% increase year-over-year, aligning with economists' predictions. Core PCE, excluding food and energy, also met forecasts with a 0.3% monthly increase and 2.8% annually. Economist Paul Gruenwald suggests this data implies the Fed is likely to maintain tighter rates for longer, indicating a cautious approach to potential rate cuts until more significant declines in core PCE are observed.
Source: YAHOO