Fed's Favorite Inflation Gauge Holds at 3.4%, Cooling Rate-Hike Bets
Inflation as measured by the Federal Reserve’s preferred came in cooler than expected last month, according to data released Wednesday by the Bureau of Economic Analysis. The personal consumption expenditures (PCE) price index rose 0.3% month-over-month, below economists’ expectations of 0.4%. On an annual basis, headl