Soft inflation figures point to easing in Fed's preferred inflation gauge - BofA
Investing.com -- Softer-than-anticipated U.S. producer and consumer price data this week suggests a cooling in the personal consumption expenditures price index later this month, analysts at Bank of America have predicted.
The analysts argued the trend may be further underlined by the release on June 28 of the PCE price index, which is typically closely monitored by Federal Reserve officials. However, the projected PCE slowdown is not tipped to persuade the Fed to revise its recently updated outlook for just one interest rate reduction this year. The central bank had previously forecast three cuts in March, but several policymakers have since flagged concerns that inflation may remain stubbornly elevated above their 2% target level.
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