Core PCE Inflation Rises, Fed Policy Considerations Amid High Inflation Concerns

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Core PCE Inflation Rises, Fed Policy Considerations Amid High Inflation Concerns
Photo: MarketWatch
money· A press review of 7 outlets

  1. But core PCE, which excludes volatile food and energy prices, rose 0.2% and 3.3% on the month and year, respectively, in line with forecasts. Central bank policymakers typically see core inflation as a better measure of longer-term trends.

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    ZeroHedge

    The (old) Fed's favorite inflation indicator - Core PCE (a measure of price changes in consumer goods and services that excludes volatile food and energy costs) - printed in line with expectations (+0.2% MoM and +3.3% YoY), a very slight uptick...

    Bloomberg

    US Core PCE Rises 0.2% in July, Consumer Spending Stalls The Federal Reserve’s preferred inflation metric, the so-called core PCE price index, which excludes food and energy items, rose 0.2% in July and advanced 3.3% from a year ago. Inflation-adjusted consumer spending was flat last month. Michael McKee reports on Bloomberg Television. (Source: Bloomberg)

  2. Economic Report U.S. inflation rises in July and stays well above Fed’s target Central bank could raise interest rates soon if prices keep going up steadily

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    Washington Times Business

    Inflation remains elevated and above the Federal Reserve’s target The Commerce Department’s Wednesday report showed that prices rose 3.7% in July compared with a year earlier, the same as June. Inflation has worsened since the U.S. and Israel attacked Iran in late February, when it stood at 2.9%. It’s noticeably above the Fed’s target of 2%.

  3. July's personal consumption expenditure reading — the Fed's preferred inflation gauge — came in slightly higher than expected. The inflation rate rose a seasonally adjusted 0.2% for the month, and 3.7% for the year, according to the Commerce Department. They were both 0.1 percentage point above the Dow Jones consensus estimate.

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    Washington Times Business

    The Federal Reserve’s preferred gauge of inflation, a price index of what Americans pay for goods and services, remained steady for the year ending in July, the government said Wednesday.

    MarketWatch

    The main inflation gauge used by the Federal Reserve to set U.S. interest rates rose at a slightly elevated rate in July, leaving it an open question as to whether the central bank will raise interest rates next month.

  4. The data comes ahead of the Fed's Jackson Hole conference, at which Fed Chairman Kevin Warsh is expected to address persistently high inflation amid conflict in the Middle East. The Jackson Hole Economic Policy Symposium starts Thursday. Warsh is set to deliver a speech on Friday.

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    Washington Times Business

    New Fed Chair Kevin Warsh will deliver a high-profile speech Friday in Jackson Hole, Wyoming, that will be closely watched by Wall Street for any signs of his thinking about next steps.

From the margins

7 details only one outlet reported

Independent claims that didn't surface elsewhere in our corpus. Treat as supplementary — not corroborated across outlets.

  1. 01 ZeroHedge

    Following the CPI and PPI internals, this morning's PCE data should not offer too many surprises with expectations for the headline price Index to rise just 0.1% MoM in July (after deflating for the first time since COVID in June).

  2. 02 MarketWatch

    The personal consumption expenditures, or PCE, index rose a 0.2% last month, the government said Wednesday. That was higher than the 0.1% forecast of economists surveyed by Wall Street.

  3. 03 Bloomberg

    Treasury Yields Rise as Data Keep Fed Bets in Play Wall Street traders sent bonds lower and stocks wavered, with the latest economic reports doing little to alter bets the Federal Reserve will raise interest rates this year. Michael Purves, CEO and founder at Tallbacken Capital Advisors, discusses the 5% yield ceiling and the exceptional moment in US equities. (Source: Bloomberg)

  4. 04 CNBC

    It wasn't enough to shift the balance for September's FOMC meeting," said Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management. The CME Group's FedWatch tool shows fed funds futures are pricing in a 40% probability that the central bank will increase its overnight rate by a quarter percentage point in September. That's about in line with Tuesday and well above the 33% chance seen a week ago. "If subsequent data point in the same direction, the Fed may feel more pressure to move off the sidelines," Zentner said.

  5. 05 Common Dreams

    We can only do this with your support. We refuse corporate ads and keep our site free for everyone because access to critical news should never depend on ability to pay. That means our survival depends on readers like you. Please donate today and help us reach our goal of raising $125,000 by August 31.

  6. 06 National Review Economy

    Inflation Update: Still Too High Higher interest rates remain the only solution, however uncomfortable.

  7. 07 Washington Times Business

    The PCE index is a primary tool for the Fed’s decision-makers and could factor into whether they raise interest rates to control inflation at their meeting in September.

Assembled from 4 corroborated claims drawn from 7 independent outlets. Every passage above is taken verbatim — Dorothy doesn't paraphrase or summarize.

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Coverage by Perspective

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Center
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Lean-Right
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Right
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Sources (7)

  • cnbc
  • nationalreview-econ
  • marketwatch
  • commondreams
  • bloomberg
  • zerohedge
  • washtimes-biz

Original Articles (15)

Lean Right Fed's Favorite Inflation Indicator Ticks Up In July As Americans Suddenly Start Saving More — ZeroHedge
Center U.S. inflation rises in July and stays well above Fed’s target — MarketWatch
Center This chart shows exactly why investors should worry about rising yields — even if they don’t own any bonds — MarketWatch
Center Treasury Yields Rise as Data Keep Fed Bets in Play — Bloomberg
Center Modest Inflation, Soft Spending Support Fed Hold — Bloomberg
Center Fed Can Avoid Hiking on Cooler Data, Economist Roth Says — Bloomberg
Center US Core PCE Rises 0.2% in July, Consumer Spending Stalls — Bloomberg
Center Core PCE: In line but not enough to lower Fed rate hike expectations — CNBC
Center 10-year Treasury yield is flat after PCE inflation report is mostly as expected — CNBC
Center Fed’s preferred inflation gauge shows core prices rose 3.3% annually in July — CNBC
Left Consumer Confidence Hits Lowest Level in Months as US Faces 'Trump's Reckless Tariffs and War With Iran' — Common Dreams
Right Inflation Update: Still Too High — National Review Economy
Lean Right Inflation index prized by Fed holds steady in July — Washington Times Business
Lean Right Key inflation gauge remains elevated during Iran conflict and ongoing U.S. trade fights — Washington Times Business
Lean Right U.S. consumer confidence falls to lowest level in 7 months with gas stuck above $4 — Washington Times Business