Fed’s Preferred Inflation Gauges Generally Cooperate Ahead Of FOMC Meeting

The Fed's preferred price gauges came in mostly as expected in this week's final top-tier US macro release, even as the report was a little warm in places. Officially, the core PCE price gauge was in line with estimates, rising 0.2% for June from the prior month (unrounded 0.18182%). But in light of the very favorable June CPI print and a spate of generally softer macro data, some market participants were probably hoping for a downside surprise on the PCE price updates. Until this week's GDP re