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By Staff Reporters
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The Fed’s favorite inflation measure fell. The personal consumption expenditures price index, a key data point for Jerome Powell and the FOMC, grew by only 3% last month compared to the previous June—its lowest annual rise since 2021.
Meanwhile, the Bureau of Labor Statistics said that the employment cost index, another favored gauge that tracks wages and benefits, also rose at its slowest rate in two years. Powell said earlier this week that central bankers will be watching the data to decide whether to raise rates again in September, and these are signs that things are moving in the direction the Federal Reserve wants.
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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Funding Basics, Investing, LifeStyle | Tagged: BLS, fed, FOMC, inflation down, inflation falling, Jerome Powell, pcepi | Leave a comment »
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