9月27日周五，美国商务部公布数据显示，美国8月核心PCE物价指数环比上涨0.1%，预期0.2%，前值0.2%；同比上涨2.7%，为4月以来新高，符合市场预期。Source: Wall Street See
"The New York Fed communicator" Nick Timiraos commented on this month's PCE data, saying that the PCE indicator favored by the Fed is not far from the Fed's target.
In August, the inflation index most favored by the Federal Reserve cooled significantly compared to the previous month, the effectiveness of the USA's 'fight against inflation' is significant, is a substantial rate cut expected later this year?
On Friday, September 27th, the US Department of Commerce released data showing that the core PCE price index in the USA rose by 0.1% in August, below the expected 0.2% and the previous value of 0.2%; rose by 2.7% year-on-year, reaching a new high since April, in line with market expectations.
Core personal consumption expenditure price index (excluding volatile food and energy items) rose by 0.1% compared to July. Calculated at an annual rate for three months, the index rose by 2.1%, meeting the central bank's target.
The market expects a significant cut in interest rates in the future. Interest ratesFutures Trading Commission (CFTC)'s latest data shows that investors are significantly reducing their net short positions in US soybean, corn, and wheat contracts, easing bearish sentiment in the market.It is believed that in November, the possibility of the Federal Reserve cutting rates by 50 basis points is slightly higher than the possibility of cutting by 25 basis points. However, investors still have divergent views on whether the Federal Reserve will take similar actions.
Following the release of the USA's PCE and other data, US stock index futures edged higher. Nasdaq futures rose by 0.14% intraday, S&P 500 index futures rose by 0.12%, both reaching pre-market highs.
US bond yields edged lower, with the 2-year Treasury yield dropping by over 4 basis points intraday, briefly falling below 3.58%, now reporting 3.594%.
The "Super Core Inflation Index" has significantly cooled down for the second consecutive month.
It is noteworthy that the "super core inflation index" closely monitored by the Federal Reserve, which excludes housing and energy, rose by 0.2% for the second consecutive month, maintaining its slowest growth in over three years. Excluding food and energy, commodity prices fell by 0.2%, marking the largest decline in three months.
Expenditure growth was driven by an increase in service expenditure. Overall service expenditure rose by 0.2%, compared to a 0.1% increase last month, while commodity expenditure remained unchanged after a significant increase the previous month.
In August, real consumer spending, adjusted for inflation, also increased by 0.1%.
Personal income grew by 0.2%, and the savings rate declined to 4.8%.
"New Federal Reserve News Agency" Nick Timiraos commented on this month's PCE data, stating that the PCE index favored by the Federal Reserve is getting closer to the Fed's target:
"In the 12 months ending in August, the index rose by 2.2%, not far from the Fed's 2% target. A year ago and two years ago, this index was 3.4% and 6.6%, respectively. Core PCE (excluding volatile food and energy items) rose by 2.7% year-on-year in August. The core inflation rate was 3.8% and 5.4% in the previous 12 months and two years ago, respectively.
Editor / jayden
