Consistent with “soft landing”; US core PCE inflation up 0.2% in June

Summary: US core PCE price index up 0.2% in June, in line with expectations; annual rate steady at 2.6%; Westpac: consistent with soft landing for US economy; Treasury yields fall; Fed rate-cut expectations firm; One of the US Fed’s favoured measures of inflation is the change in the core personal consumption expenditures (PCE) price index. After hitting the Fed’s target at the time of 2.0% in mid-2018, the annual rate...

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