The Federal Reserve's preferred inflation indicator rebounds and pushes away rate cuts

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The Federal Reserve's preferred inflation indicator rebounds and pushes away rate cuts

The president of the Federal Reserve, Jerome Powell, had already warned recently that the latest inflation data kept interest rate cuts away. This Friday, the last price data that remained to be released before the meeting of the Federal Reserve's monetary policy committee next week was released. This was the Personal Expenditure Price Index (PCE), a private consumption deflator that is the Fed's preferred indicator. The figure met the forecasts…