Fed’s favored price gauge slows, supporting case for rate cut
Personal consumption expenditures price index increased 0.1% MoM
The Federal Reserve’s preferred measure of underlying US inflation decelerated in May, bolstering the case for lower interest rates later this year. . At the same time, household spending rebounded after a pullback in April, and incomes showed solid growth, offering some hope that price pressures can be tamed without lasting damage to consumers. . […]
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