According to BlockBeats, on June 28, following the release of the Personal Consumption Expenditures (PCE) data for May in the United States, traders have increased their bets on a rate cut by the Federal Reserve. The PCE data is a measure of price changes in consumer goods and services, and is the Federal Reserve's preferred gauge of inflation. The increase in bets suggests that traders anticipate a decrease in interest rates by the Federal Reserve, which could potentially stimulate economic growth by making borrowing cheaper. However, the Federal Reserve has not yet confirmed any plans for a rate cut. This information is based on trading activities and market speculation, and actual decisions by the Federal Reserve may vary.
Traders Increase Bets On Federal Reserve Rate Cut Following May PCE Data Release
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