🚨 Negative Data Alert! 🚨

#ALERT

The U.S. Department of Commerce released data yesterday revealing a significant decline in the U.S. CPE price index. The month-on-month growth rate dropped from 0.3% in April to 0% in May, marking the lowest rate since November 2023. Additionally, the year-on-year growth rate of the core PCE index fell to 2.6% in May.

This downturn suggests a 61% probability that the Federal Reserve may reduce interest rates by 25 basis points in September. If this trend continues over the next two months, the Fed might gain the confidence to implement another rate cut.

Mary Daly, President of the Federal Reserve Bank of San Francisco, commented that the latest personal consumption expenditure data is encouraging, indicating a cooling of inflation.

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