That was one busy week, between endless earnings, the FOMC meetings, and multiple economic data points, traders had plenty of information to digest. Today was no different, we kicked off this morning with the Fed’s preferred inflation gauge PCE. Core PCE for June fell to 4.1% (cons. 4.2%), finally breaking away from the 4.6% it has been stuck at since December. Headline PCE fell to a 3.0% y/y (same rate as CPI), bringing it to the lowest level in over 2 years. Additionally, US Employment Cost I…
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