Inflation Rises in June, Boosting Market and Fed Concerns
The Federal Reserve's core PCE inflation rate exceeded expectations in June, complicating prospects for a September rate cut, while the stock market remains optimistic with futures reaching new highs driven by strong earnings from Microsoft and Meta. Meanwhile, layoffs surged 140% year-over-year in July, contrasting with the Fed's view of a solid labor market, and economic indicators show mixed signals on consumer spending and employment costs.