Reported over 1 year ago
The latest Personal Consumption Expenditures (PCE) data for May matched analyst expectations at 2.6%, with BMO senior economist Jennifer Lee describing it as 'the best one can expect.' This data is seen as bolstering the Federal Reserve's confidence in easing monetary policy, especially due to noted 'softness' in services spending that could help cool previous inflation trends. Based on this report, Lee anticipates a potential Fed rate cut in September, pending further inflation data alignment for the Fed's comfort and confidence.
Source: YAHOO