Inflation Stays Stubbornly High, Meeting Fed Expectations
TL;DR
The Federal Reserve's closely monitored inflation gauge, the Personal Consumption Expenditures (PCE) price index, rose to 2.3% year-over-year in October, aligning with expectations. Core PCE, excluding food and energy, increased to 2.8%. Personal income surged by 0.6%, surpassing forecasts, while personal spending slightly slowed but still exceeded expectations. Despite these inflationary signals, market expectations for a December interest rate cut remain unchanged. The U.S. dollar index fell, and stock markets showed little movement ahead of the Thanksgiving holiday.
- Fed's Favorite Inflation Gauge Heats Up As Predicted, Personal Incomes Soar Benzinga
- Fed’s preferred inflation gauge rises to 2.3% annually, meeting expectations CNBC
- US economy holds firm in early Q4; inflation stuck above Fed's target Reuters
- US consumer price increases accelerated last month with inflation pressures resilient The Associated Press
- PCE Inflation Report: October Price Growth Remained Stubborn Barron's
Want the full story? Read the original reporting
Read on Benzinga