US Inflation Steady in August as Fed Maintains Rate Cut Outlook
TL;DR
The Federal Reserve's preferred inflation measure, the PCE index, increased slightly in August to 2.7% year-over-year, indicating persistent inflation above the 2% target despite recent rate cuts. Consumer spending remained strong, driven mainly by higher income at the top of the income distribution, while inflation-adjusted spending grew 0.4%. The Fed remains cautious about rate cuts amid ongoing inflation concerns and external economic pressures.
- Fed’s favored inflation gauge accelerates slightly in August AP News
- Inflation remains elevated. That won't keep the Fed from cutting rates. Politico
- 10-year Treasury yield holds steady after core inflation reading of 2.9% CNBC
- Inflation held steady in August, in line with economist forecasts CBS News
- Charting the Global Economy: US Consumers Keep Fueling Growth Bloomberg.com
Want the full story? Read the original reporting
Read on AP News