Chair Jerome Powell told Congress this week that the Fed is looking for “more good data” to strengthen its confidence that inflation will return to 2%. That is exactly what the June CPI and PPI delivered, with those releases implying that core PCE prices rose at a sub-2% annualised rate for the second month running.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services