The BEA released the PCE Price Index this morning and is shows improvement and disappointment.
While overall PCE year-over-year has declined, core PCE has come in hotter than expected. The economy continues to run hot in most areas. Will the Fed cut at their next FOMC meeting? That’s the trillion dollar question but it’s hard to think this data leans toward more fed cuts.
The next FOMC meeting is Nov 6-7, right after the election so it will be interesting to see what will happen on the election front and the Fed rate cut front so stay tuned, stay profitable and stay solvent…