More signs are emerging that the Federal Reserve’s latest hike might be the last in a while.
for the second quarter. Alphabet's report showed that the company could still keep Google as the leader in the search business despite challenges posed by generative artificial intelligence chatbots.it will offer to purchase 10-year Japanese government bonds at 1%. That is, the bank's effectively loosening its yield curve control by expanding its tolerance range for 10-year JGB yields by a further 50 basis points.
The headline PCE figure for June came in at 3%, the lowest annual increase since March 2021. Notably, that's just one percentage point over the Fed's target of 2% inflation. In fact, goods and food prices decreased 0.1% for the month, contributing to a plunge of 0.8 percentage points in the headline number from May. This suggests that we might not be too far off from hitting the Fed's goal.
Aside from the inflation data, the Commerce Department reported personal income rose 0.3%, slightly below expectations. That's corroborated by the Labor Department, which said the employment cost index rose 1% in the second quarter, lower than the 1.1% estimate.
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