According to Scott Helfstein, an analyst from Global X, mild inflation and flexible economic growth indicate that the US economy has not landed. The core PCE inflation rate in June continued its 2.6% growth in May, meeting expectations. It is still higher than the Federal Reserve's target of 2%, but the market's reaction is to buy US Treasury bonds, indicating that expectations for interest rate cuts are increasing. Helfstein said: "Growth is far above pre-pandemic trends and prices remain stable." The series of memorable interest rate hikes launched by the Fed in 2022 may lead to economic recession or hard landing, but there was hope at the time that prices could be suppressed without economic contraction, leading to a soft landing. "Forget the soft landing, this is an economy that doesn't land," Helfstein said.