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The odds of a bigger cut rose slightly to 54% following the release of the PCE data. The consensus among Fed officials outlined last week is for two more 25 basis point rate cuts in 2024.
On a month-over-month basis, "core" PCE rose 0.2%, faster than the 0.1% seen in November. The annual and monthly figures were in line with Wall Street expectations.
Economists expect annual "core" PCE — which excludes the volatile categories of food and energy — to have clocked in at 2.8% in October, up from the 2.7% seen in September.
The PCE price index (PePP), also referred to as the PCE deflator, PCE price deflator, or the Implicit Price Deflator for Personal Consumption Expenditures (IPD for PCE) by the Bureau of Economic Analysis (BEA) and as the Chain-type Price Index for Personal Consumption Expenditures (CTPIPCE) by the Federal Open Market Committee (FOMC), is a United States-wide indicator of the average increase ...
The largest city in the Pacific Time Zone is Los Angeles, whose metropolitan area is also the largest in the time zone. The zone is two hours ahead of the Hawaii–Aleutian Time Zone, one hour ahead of the Alaska Time Zone, one hour behind the Mountain Time Zone, [a] two hours behind the Central Time Zone, three hours behind the Eastern Time ...
It measures average changes in prices received by domestic producers for their output. The PPI was known as the Wholesale Price Index, or WPI, up to 1978. It is published by the Bureau of Labor Statistics and is one of the oldest economic time series compiled by the Federal government of the United States. [2]
PCE data for June will be released on July 26. Powell and other Fed officials say they want to begin cutting rates before inflation actually hits 2% since the impact of monetary policy takes time ...
Each zone line for a zone specifies, for a range of date and time, the offset to UTC for standard time, the name of the set of rules that govern daylight saving time (or a hyphen if standard time always applies), the format for time zone abbreviations, and, for all but the last zone line, the date and time at which the range of date and time ...