An inflation measure closely tracked by the Federal Reserve slowed to its smallest annual increase in three years, prompting some Wall Street economists to forecast an increased likelihood that the central bank could cut rates in September. The personal consumption expenditures index, or PCE, rose 2.6% in May on a year-over-year basis, the U.S. Commerce Department said on Friday.
Currently, the odds for a rate cut at that meeting are approximately 75%,' wrote John Kerschner, head of U.S. securitised products at Janus Henderson Investors, in a Friday email. Excluding volatile food and energy prices, so-called core inflation rose 0.1% from April to May, the smallest increase since the spring of 2020, when the pandemic erupted and shut down the economy. Prices for physical goods actually fell 0.4% from April to May. Gasoline prices, for example, dropped 3.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Federal Reserve wants to cut rates, appears trapped by inflationAs the Fed keeps hopes alive for at least one rate cut this year, metals investors are weighing the inflation outlook.
Source: FXStreetNews - 🏆 14. / 72 Read more »
Federal Reserve stands pat on interest ratesThe Federal Reserve kept its benchmark rate in a range of 5.25% to 5.5%, the same level where it's been parked since July 2023.
Source: CBSNews - 🏆 87. / 68 Read more »
The Federal Reserve holds interest rates steady — here's what that means for your moneyThe Federal Reserve will keep rates where they are, for now — here’s what that means for your credit card, mortgage rate, auto loan and savings account.
Source: NBCNewYork - 🏆 270. / 63 Read more »
Federal Reserve interest rate decision for June 2024: Rates unchanged amid cooling inflationRob Wile is a breaking business news reporter for NBC News Digital.
Source: NBCNewsHealth - 🏆 707. / 51 Read more »
The Federal Reserve holds interest rates steady — here's what that means for your moneyThe Federal Reserve will keep rates where they are, for now — here’s what that means for your credit card, mortgage rate, auto loan and savings account.
Source: NBCLA - 🏆 319. / 59 Read more »
The Federal Reserve will cut rates this yearThe economy's current position and the attitudes of Federal Reserve Open Market Committee members indicate that further interest rate cuts are likely this year.
Source: dcexaminer - 🏆 6. / 94 Read more »