OAN’s Alicia Summers5:00 PM – Friday, January 31, 2025 December’s Personal Consumption Expenditures (PCE), the Federal Reserve’s preferred inflation measure, showed a 0.3%…
The U.S. Federal Reserve will cut interest rates by 25 basis points at each of the remaining three meetings of 2024.
Data showed the U.S. economy expanded 2.8% in the second quarter versus estimates of 2%, but inflation subsided, leaving intact expectations of a September rate cut.
U.S. monthly inflation was unchanged in May as a modest increase in the cost of services was offset by the largest drop in goods prices in six months.
A Labor Department report showed the PPI for final demand rose 0.2% in March, against forecasts of a 0.3% increase.
Wall Street’s main stock indexes ticked higher, with the blue-chip Dow leading gains in thin trading ahead of crucial economic data.