Analyst: PCE data has little impact on Fed rate cut bets

Odaily Odaily reported that analysts said that U.S. stock index futures rose slightly after the latest economic data reinforced expectations that the Federal Reserve will cut interest rates several times this year. U.S. Treasury yields were little changed, and the market is expected to achieve the longest consecutive rise since 2021. The PCE indicator favored by the Federal Reserve, which measures potential inflation in the United States, rose modestly in July, and household spending remained solid. Federal Reserve Chairman Powell said last week that the time has come for the Fed to cut its key policy interest rate. He affirmed the expectation that Fed officials will begin to reduce borrowing costs next month and made clear that he intends to prevent the labor market from cooling further. (Jinshi)