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Strategies & Market Trends : Humble1 and Swing Trading Friends
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From: humble19/27/2024 7:49:38 AM
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rdkflorida2

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Set up for another “jumbo cut:”

The August reading of the Personal Consumption Expenditures (PCE) index, the inflation metric favored by the Fed, is seen as crucial to those calculations. While policymakers have shifted their focus to the labor market, they still haven't met their inflation goal of 2%.

Analysts expect the PCE print to come in at 2.3% year-over-year, down from 2.5% for July, when it's released at 8:30 am ET. That would support the Fed's decision to lower rates by 50 basis points last week and provide scope for another jumbo cut in November. But any sign of sticky price pressures could revive worries that policymakers have stepped off the brakes too early.
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