108 days ago • Posted by Ajmir Omid
Core PCE hits 4.9% for the month of December! #US #ECI #PCE #trading
Fed's closely watched inflation gauge hit the highest since the 1980s, but in line with estimates. More importantly, the Employment Cost Index rose less than expected 1% (vs. 1.2% expected) and lower than Q3's 1.5%, providing some hope that inflation might be cooling down from here on. The yield on the 2-year fell 5bps following the report, and stock markets reacted positively, reversing morning session losses.