Thndr Claps » U.S. Claps » Economy 🏢 » PCE signaling trouble 🔴
The ClapThe personal consumption expenditures (PCE) index, the Fed’s favorite inflation tracker as its coverage of goods & services is more comprehensive, rose 6.2% YoY.
The DeetsOn a monthly basis, the PCE is up 0.3%, indicating increased spending on goods and services.
The Fed aims to bring PCE down to 2%.
So WhatThe increase indicates the seriousness of the inflation issue, as it continues to rise amid the Fed’s efforts to slow it down.
Now WhatThe increase strengthens the likelihood the Fed will hike interest rates by 0.75% in the coming week, & now investors await CPI data on November 10th.
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