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Fed’s Favorite Inflation Signal Remains Slow As Savings Rate Stabilizes

Courtesy of ZeroHedge. View original post here.

After May's surprisingly positive rebound, income and spending growth was expected to slow in June and both printed right at expectations (+0.4% MoM and +0.3% MoM respectively).

This is the 4th month of slowing spending growth in a row…

However, thanks to the historical revisions, incomes are rising at 4.9% YoY as spending growth slows to 3.9% YoY

Which has stabilized the savings rate…

And finally, The Fed's favorite inflation indicator – Core PCE Deflator – rose 1.6% YoY, cooler than the +1.7% YoY expectations.

So maybe, just maybe, there's one item for Powell to hang his rate cut on.


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