▫️ [US PCE price index continues to deviate from Federal Reserve target] News March 29: Annual rate of PCE price index, the inflation index used by the Federal Reserve preferred, up 2.5% year-on-year in February, an increase of 0.1% over the previous month. Meanwhile, the annual core PCE rate was unchanged at 2.8%. The increase in PCE is not very good news for Biden and the Fed. The Fed is looking for more evidence that its action to reduce inflation by raising interest rates is working. The Fed's goal is for PCE inflation to reach 2%. Before the PCE announcement, both US CPI and PPI were better than expected. Since June 2023, CPI inflation has fluctuated between 3% and 3.7%, but has never fallen within the 2%-3% range. Additionally, despite higher interest rates, the U.S. economy overall is still growing well, with consumer confidence rising to its highest level in more than two years in March. The labor market also continues to overshoot expectation. The biggest question facing many economists at the time was when the Fed would start cutting interest rates.

#BinanceVietnamSquare #BTC🔥🔥🔥🔥 $ETH