"Fed's Preferred Inflation Gauge Shows Minimal Progress Amid Mixed Market Reactions"
TL;DR Summary
The Federal Reserve's preferred inflation gauge, the Personal Consumption Expenditures (PCE) price index, showed little progress in April, maintaining the same annual rate of 2.7% as in March. While food prices fell, gas prices rose, and core PCE inflation, excluding food and energy, slowed slightly. Consumer spending and disposable income gains also cooled, indicating a slowdown in economic activity. The Biden administration highlighted progress in reducing inflation, but economists suggest that more favorable reports are needed before the Fed considers cutting interest rates.
Topics:top-news#consumer-spending#economic-policy#economics#federal-reserve#inflation#personal-consumption-expenditures
- The Fed’s favorite inflation gauge showed little progress last month CNN
- The Fed Might Soon Have to Worry About More Than Just Inflation The Wall Street Journal
- The Fed’s preferred inflation measure rose 0.2% in April, as expected CNBC
- Stocks Are Mixed After PCE Inflation Data. What Could Come Next. Barron's
- Fed's Favored Inflation Gauge Cools, Spending Unexpectedly Drops Bloomberg
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