July PCE Inflation Data Signals Stable Prices and Rate Outlook
TL;DR Summary
Consumer spending increased by 0.3% in July, driven by rising wages, despite a slight uptick in inflation, which aligns with expectations and supports the Federal Reserve's consideration of a rate cut in September. Inflation remains elevated but manageable, with upcoming jobs data and inflation reports likely influencing the Fed's decision. Political tensions and tariff impacts add uncertainty to the economic outlook.
- The July PCE Inflation Data Are Out. What They Mean for Rates. Barron's
- Core inflation rose to 2.9% in July, highest since February CNBC
- PCE Inflation Stayed Stable in July, Keeping Fed on Track to Lower Interest Rates The New York Times
- US consumer spending strong; core inflation warmer on services Reuters
- Inflation is climbing. Trump might still get lower rates. Politico
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