#PCEMarketWatch ā Why it's trending š
š£ The Key Fact: According to the U.S. Commerce Department, the latest Personal Consumption Expenditures (PCE) price index, the Fed's preferred inflation gauge, remained at 2.6% year-over-year. The core PCE, which excludes food and energy, ticked up slightly to 2.9%.
š The Social Pulse: According to Fox Business, the crypto and stock markets are interpreting the in-line inflation data as a sign that a Federal Reserve rate cut in September remains likely. The CME FedWatch Tool shows traders are pricing in an 87% chance of a cut following the report.
š” Why it's Trending: All eyes are on macroeconomic data for clues about future monetary policy. The PCE report is a critical piece of information that heavily influences the Fed's decisions, and any data that points towards looser financial conditions is seen as bullish for risk assets like crypto.
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ā ļø Remember that every investment decision is personal, and this content does not constitute financial advice.