Analyst: PCE data has little impact on Fed rate cut bets
2024-08-30 12:50:06
Analysts analysts say economy data strengthening people warp reserve todaydesk3cryptocurrencydesktopCrypto News
Some analysts said that after the latest economic data strengthened expectations that the Federal Reserve will cut interest rates several times this year, U.S. stock index futures rose slightly. Treasury yields were little changed, and the market is on track for its longest consecutive rise since 2021. The Fed's favored PCE measure of potential U.S. inflation rose modestly in July, and household spending remained solid. Federal Reserve Chairperson Jerome Powell said last week that the time has come for the Fed to cut its key policy rate. He affirmed expectations that Fed officials will start lowering borrowing costs next month, and made it clear that he intends to prevent the labor market from cooling further. (Jin Ten)
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