PCE Comes in With Mixed Results, Brainerd Nominated to Vice Chair, GDP Miss Likely Doesn’t Change Fed Calculus

The Fed’s preferred measure of inflation, the Personal Consumption Expenditure Index (PCE), was reported Friday morning. The index went up 6.6% which was the most significant increase since 1981. However, when looking under the hood in the numbers there was some promising evidence that at least some problematic components of overall inflation may be mitigating. The narrower measure that omits food and energy costs climbed by just .3% in March which matched the expectations of Wall Street. The...

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