Agency: Overall, today's data may push the Federal Reserve to cut interest rates
Stuart Cole, chief macroeconomist at Equiti Capital, said the market reacted more to the PCE data than to the weaker-than-expected GDP data. Today's data is interesting. If the GDP data is confirmed in subsequent revisions, it will indicate that the US economy is finally starting to slow under the monetary tightening policy implemented by the Federal Reserve, which in turn may lead to a decline in labor demand and downward pressure on wages. But the Fed may pay more attention to the PCE data, which shows that the progress of returning inflation to target is still far from won. Overall, today's data may further push the Federal Reserve to cut interest rates.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
"Machi" has been liquidated 145 times since the "1011 crash"
Data: IDEX rises over 8%, RARE drops over 15%
Data: 2,501,000 ASTER transferred to Aster (Prev. Astherus), worth approximately $2,926,200