Fed's Favorite Inflation Gauge Holds at 3.4%, Cooling Rate-Hike Bets (UPDATED)
PCE inflation held at 3.4% in August, below the 3.7% expected, as core prices slowed to 3.0%, still a full point above the Fed's 2% target.
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Why It Matters
The main inflation measure stayed at 3.4% in August, which is better than feared. This means the Fed might not need to raise interest rates as much.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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