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The Federal Reserve's favorite inflation indicator is cooling down! Core PCE personal spending rebounded 0.3% month-on-month in February
After the US PCE data was released, the probability that the Fed would stay on hold in May remained unchanged at 95.8%.
US Core PCE Inflation Set to Ease in February on Month as Federal Reserve Rate Cut Bets for June Mount
The core Personal Consumption Expenditures (PCE) Price Index, the US Federal Reserve’s (Fed) preferred inflation measure, will be published on Friday by the US Bureau of Economic Analysis (BEA) at 12:30 GMT.
Consumer confidence in Michigan in the US unexpectedly hit a three-year high in March! Short-term inflation expectations hit a new low of more than three years
The final 1-year inflation forecast for US consumers was 2.9%, the lowest since December 2020. The forecast was 3.1%, the initial value was 3%; the final 5-year inflation forecast was 2.8%, the forecast was 2.9%, and the initial value was 2.9%. Michigan consumers' inflation expectations have given the Federal Reserve some relief.
Economists warn: the forecast of the Fed's interest rate cut indicates that a recession is imminent
The Zhitong Finance App learned that on Thursday, David Rosenberg (David Rosenberg), a top economist and president of Rosenberg Research, published an article suggesting that the Federal Reserve's latest interest rate forecast may be a harbinger of an impending recession. Rosenberg pointed out that although the Federal Reserve did not directly announce the risk of a recession, its actions and forecasts seem to suggest this. According to Rosenberg's analysis, although the Federal Reserve expects a gross domestic product (GDP) growth rate of 2.1% and an unemployment rate of 4%, he believes the Fed is beneficial to federal funds
Higher inflation risk may dash hopes that the Fed will cut interest rates
There are fears that the Fed's policymakers are mistakenly insisting on the prospect of three interest rate cuts this year, which could lose their credibility and in turn trigger cross-asset fluctuations
Forex Today: US Dollar Firmer Ahead of Fed's Favorite Inflation Gauge
The US Dollar surged on Thursday, helped by hawkish comments from Federal Reserve (Fed) official Waller, who suggested the central bank may keep rates at current restrictive levels for longer.