Strategist: PCE supports Fed's rate cut in September, but a swallow does not make a summer

Golden Ten Data June 30th news, senior research strategist Michael Brown: Reasons to support a rate cut by the FOMC in September - this is still my own basic assumption - are last week’s personal consumption expenditure data, which was the most noteworthy event in the context of last week’s flat economic data. Of course, “one swallow does not make a summer”, so policymakers will seek further confirmation that this inflationary downturn trend is firmly established before pulling the trigger on the initial 25 basis point rate cut.