The core PCE annual rate has slightly increased, with almost no growth in consumer spending
The core PCE favored by the Federal Reserve saw a slight increase in August, highlighting that the economy is cooling down. In addition, real personal consumption expenditure increased by 0.1% monthly. U.S. Treasury yields and the dollar fell as markets anticipated these data would lead to further interest rate cuts from the Fed in coming months, intensifying ongoing debates about the extent of such cuts. The Fed chose to cut rates significantly by 50 basis points this month, initiating its easing cycle. Interest rate futures data show investors are divided on whether the Fed will take similar actions in November or opt for smaller measures.
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