US Inflation Moderates but Still Above Fed's Target; Personal Spending Rises in September
The US Bureau of Economic Analysis has released the personal consumption expenditures (PCE) inflation data for September, with the annual PCE inflation in line with market forecasts at 3.4%. The Federal Reserve's preferred gauge for measuring inflation, the annual core PCE, also came in at 3.7%, falling from 3.9% last month. However, the core PCE month-over-month rose to 0.4% against the expected 0.3%, indicating that inflationary pressures continue to slowly moderate. The US stock futures rose on Friday, while Bitcoin and Ethereum are expected to continue rising as PCE inflation cools slowly.
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