Reported about 10 hours ago
US inflation is projected to increase, according to a key gauge, highlighting challenges faced by Federal Reserve Chair Jerome Powell in managing both rising prices and the risk of a weakening job market. The personal consumption expenditures price index is expected to rise 2.9% year-over-year in July, representing the fastest annual increase in five months. Powell indicated that risks in the job market are growing, while investors eye forthcoming comments from Fed officials to assess potential rate cuts.
Source: YAHOO