Published • loading... • Updated
Fed’s preferred inflation gauge shows core prices rose 3.3% annually in July
- The Bureau of Economic Analysis reported Wednesday that core personal consumption expenditures inflation remained unchanged at 3.3% in July, matching June's pace and staying above the Federal Reserve's 2% target.
- Inflation has worsened since the Iran war began in late February when it stood at 2.9%, and during the Federal Open Market Committee's July meeting, "many" participants indicated interest rate hikes would "likely be necessary if inflation did not decline."
- Headline PCE rose 3.7% in July, notably above the 2% target, while markets priced in a 72.7% probability of interest rate hikes by December according to CME Group's FedWatch data.
- Some Fed officials remain divided on whether to hold rates steady or raise them to combat inflation, though some view the 0.2% monthly core inflation as a reassuring sign toward the 2% target.
- Federal Reserve Chair Kevin Warsh will deliver a high-profile speech on Friday at the central bank's annual symposium in Jackson Hole, Wyoming, with Wall Street closely watching for signals on future interest rate steps.
Insights by Ground AI
25 Articles
25 Articles
Personal consumption expenditure in the US continues to rise significantly. The core rate, to which the Fed attaches great importance, also remains at a high level.
·Düsseldorf, Germany
Read Full Article
The American inflation measured by the Pce index, the personal consumption expenditure that the Fed Usa as one of the main indicators of price pressures, stood at 3.7% in July, above the expectations of analysts who bet on a +3.6% but ... (ANSA)
·Rome, Italy
Read Full Article
U.S. inflation rises in July and stays well above Fed’s target
The main inflation gauge used by the Federal Reserve to set U.S. interest rates rose at a slightly elevated rate in July, leaving it an open question as to whether the central bank will raise interest rates next month.
·New York, United States
Read Full ArticleCoverage Details
Total News Sources25
Leaning Left4Leaning Right4Center10Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 22%
C 56%
R 22%
Factuality
To view factuality data please Upgrade to Premium
