According to press reports, U.S. inflation shows signs of cooling.
However, it is not sufficient for Federal Reserve policymakers to move from their half-point interest rate hikes planned for upcoming meetings in June and, July but it may prompt a shift to smaller rate hikes come September if the trend continues.
A U.S. Commerce Department report at the end of the week showed the personal consumption expenditures (PCE) price index rose 6.3 percent in April from a year earlier.
That is still more than three times the Fed’s two percent target.
While prices are still rising, the pace of the rise has slowed versus the previous month.
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Edited by Jesus Chan
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