Investing.com – Friday’s measure of personal consumption price inflation, PCE, the Fed’s favorite index, showed that US inflation slowed in April, in line with Wall Street expectations. WROTE Yahoo.
The core index of personal consumption expenditures, excluding food and energy costs, rose 0.2% in April, in line with Wall Street expectations but below the 0.3% increase in March.
In April, core PCE rose 2.8% year over year, also in line with estimates and unchanged from the year-over-year growth seen in the previous two months.
In the meantime, investors are getting used to the prospect that the Fed will keep interest rates higher than originally expected. As of Friday morning, investors gave the Fed’s first rate cut a nearly 50-50 chance of coming in September, according to CME’s FedWatch rate monitoring tool.
The governor himself has repeatedly said that it needs more confidence in low inflation before it becomes advisable to cut rates.
— Yahoo materials were used in the preparation
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