Reported 12 months ago
In May, US inflation remained steady while consumer spending grew moderately, potentially pushing the Federal Reserve closer to cutting interest rates later this year. The Personal Consumption Expenditures (PCE) price index showed no change from the previous month, with a 2.6% increase year-on-year. This data aligns with expectations and could lead to a rate cut in September, reflecting a positive trend towards lower inflation and supporting equities. Economists are closely monitoring future inflation data to determine the necessity of further rate cuts.
Source: YAHOO