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June PCE inflation gauge drops for first time since pandemic
The Federal Reserve uses the PCE gauge to guide U.S. interest rate decisions, and its June decline helped explain why the Fed did not raise borrowing costs this week.
MarketWatch reports that the main inflation barometer the Federal Reserve relies on, the PCE inflation gauge, fell in June for the first time since the pandemic.
The decline underscores why the Fed chose not to raise U.S. borrowing costs this week, even as policymakers continue to monitor inflation progress.
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