Fed's preferred inflation gauge accelerated more than expected in August
‘Volcker-ized’ Fed fighting inflation at the expense of growth, strategist says
Aegon Asset Management chief macro strategist Frank Rybinski argues until there is a ‘dovish Fed pivot’ market volatility will persist on ‘The Claman Countdown.’
The Federal Reserve's preferred inflation gauge accelerated again in August, keeping prices elevated near a four-decade high, according to new data released on Friday,
The personal consumption expenditures index showed that core prices, which strip out the more volatile measurements of food and energy, climbed 0.6% from the previous month and rose 4.9% on an annual basis, according to the Commerce Department. Those figures are both higher than the 0.5% monthly increase and 4.7% annual increase forecast by Refinitiv economists.
The more encompassing headline figure rose 6.2% on an annual basis after prices rose 0.3% from the previous month.
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