Ellen Zentner: The latest PCE data is not enough to change the expected FOMC rate hike in September

The monthly core personal consumption expenditure PCE price index increased by 0.2% month on month and 3.3% year-on-year, which is in line with expectations. Ellen Zentner, Chief Economic Strategist at Morgan Stanley Wealth Management, stated that the warm and unexpectedly positive inflation data and strong economic performance are not enough to change the decision-making balance of the September Federal Open Market Committee (FOMC) meeting. (Yahoo Finance)