Core PCE cools to 0.2% MoM as jobless claims rise to 215K
Two soft prints in one morning: a labor market cooling faster than economists expected and an inflation gauge undershooting forecasts — the Fed's preferred measure is still 3.3% YoY.
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Two soft prints in one morning: a labor market cooling faster than economists expected and an inflation gauge undershooting forecasts — the Fed's preferred measure is still 3.3% YoY.
The monthly core print ran more than triple the consensus 0.3% forecast and lifted the annual rate to 5.2% — a fresh test of the disinflation narrative the Fed has been leaning on.