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Fed Gets More Good Inflation News. Saving Rate Slips Below 3%
Consumer price growth on the Fed's preferred metrics was benign last month, data released ahead of the long holiday weekend in the US showed.
The core PCE index rose 0.161% in July from June, the BEA said. Consensus expected a 0.2% advance. The headline index rose 0.155%, likewise acceptable for policymakers, the balance of whom have deemphasized inflation in their decision calculus around rates.
Note that the YoY core print was 2.6%, a tick lower than expected. That'll be interpreted by marke
Ah, so we can finally put aside that nonsense about “excess savings”?
H-Man, I agree that payroll numbers will be driving the bus. If we go negative, it will be a big time shot in the arm for T-bonds.