Sticky PCE Keeps Fed Divided Ahead of Jackson Hole
July core PCE rose 3.3% year over year and 0.2% month over month, signaling sticky inflation even as prices cool, which preserves a split within the Fed between rate hikes and holding. With Jackson Hole approaching, officials differ on whether to move in September, and some economists still call for a possible December hike depending on forthcoming data, amid elevated energy prices and ongoing policy scrutiny.