Annual PCE inflation unchanged at 2.5% in July - BEA
Investing.com -- Overall annual U.S. inflation was unchanged in July, largely cementing a cut in interest rates by the U.S. Federal Reserve in September.last week, Fed Chair Jerome Powell acknowledged recent progress on inflation and said that “the time has come for policy to adjust.”
This has been taken by the markets as all but guaranteeing a rate cut at next month's policy meeting, which would be the first such cut in over four years. This level of inflation is unlikely to stop the Fed policymakers from rubber stamping an interest rate reduction from more than two-decade highs, but could impact the number of cuts this year, especially after second-quarterRisk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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