Fed October hike odds fall sharply after soft PCE inflation
The PCE price index rose 3.4% year-over-year in August, below the 3.7% forecast, reducing the probability of a Federal Reserve rate hike in October from around 70% to about 33%. Analysts still expect further tightening later due to inflation above the 2% target.
Original · Reuters AI summary of public reporting
Why: Soft PCE inflation → sharply lower October Fed hike odds
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At publication → CurrentSP500— → 7,812—
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