Loading ...After US and German GDP gravely disappointed and inflation measures on both sides of the pond remain far more elevated that hoped for, this morning’s print of The Fed’s favorite inflation indicator will likely drive today’s early action among the algos.
Core PCE was expected to be flat at +4.6% YoY (and it was, but Feb was revised up to +4.7%) but the headline PCE printed hotter than expected at +4.2% YoY (although well down from the +5.1% prior).