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As inflation rose, the Fed paid more attention to the CPI, but we suspect as the year progresses, and price pressures ease, officials will revert to the PCE deflator, which it targets.
But I think with an inflation number like this, and if the PCE further confirms that inflation is continuing to moderate, we may not see any more rate increases.
By the end of June, the Inflation PCE price index had advanced 3.0% in the past 12 months, marking the third consecutive increase in the index.
Source: https://www.chiangraitimes.com/news/inflation-in-the-us-slows-in-june/
Core PCE is expected to rise 0.4% M/M in February, cooling vs the +0.6% in January; the annual rate of core PCE is seen moderating to 4.3% Y/Y from 4.7%.
Core PCE is expected to rise 0.4% M/M in February, cooling vs the +0.6% in January; the annual rate of core PCE is seen moderating to 4.3% Y/Y from 4.7%.
"Core PCE (Personal Consumption Expenditures) inflation showed cooling inflation in the US, raising expectations that the US Federal Reserve may be at the end of its rate hike cycle.
Source: https://www.ndtv.com/business/rupee-falls-10-paise-to-close-at-82-31-against-us-dollar-3916408
Core PCE rose 4.6% year-over-year, down from 4.7% in April and below economists’ median estimates.
Eppler voted to deny the appeal, saying he saw the necessary cleanup of PCE in the neighborhood and the building permit before them as separate issues.
If we were to reverse all the way back to 2019 levels by the end of the year, so this would be more home improvement share of PCE, there will be further pressure.
Investors are now waiting for the U.S. Personal Consumption Expenditures (PCE) index reading on Friday, the Fed’s favored inflation gauge.
Source: https://business.inquirer.net/407644/asian-shares-subdued-yen-and-yuan-hover-near-8-month-troughs
It will be a busy week filled with economic releases, with most of the attention falling on the first look at the May PMI readings, a second look at Q1 GDP/Core PCE, New Home Sales, and the FOMC meeting minutes.
More inflation numbers that come with the report, the Fed's favorite inflation gauge, core PCE price index.
Moving on to Thursday, we will have the US Jobless Claims and the US PCE data.
On Thursday, the government will release an inflation update with a report on personal consumption and expenditures, or PCE.
Source: https://qz.com/stock-market-today-asian-markets-lower-after-japan-fac-1850787914
Other chemicals linked to an increased risk of congenital heart defects include perchloroethylene (PCE), commonly used in dry cleaning, and benzene, which is used in the production of plastics, resins, and synthetic fibers.
Source: https://www.lawsuit-information-center.com/camp-lejeune-heart-defect-lawsuits.html
The banking turmoil may well be truly put behind now and that may provide a tailwind for risk trades but not before we get to key inflation data in Europe and US (via PCE) later in the week.
Source: https://www.forexlive.com/news/european-equities-open-higher-to-start-the-new-week-20230327/
The central bank focuses on the PCE price index as it reflects actual consumer spending, including shifts to less expensive items, unlike the more well-known consumer price index.
Source: https://www.rawstory.com/in-brazil-s-amazon-malnourished-yanomami-children-get-needed-care/
The core PCE is the benchmark for the central bank's 2% target rate, and should be the number falling fastest in response to higher rates.
The Core PCE (which excludes volatile energy and food price) rose just in August compared to July.
Source: https://www.forbes.com/sites/georgecalhoun/2023/10/07/inflation-is-over--what-comes-next/
The Federal Reserve itself recognized the problems with the CPI over twenty years ago, and replaced it with the PCE for purposes of setting monetary policy.