🚨U.S. inflation came in stronger than expected

July PCE data came in at 3.7%

while expectations were for 3.6%

and core PCE at 3.3% one of the highest readings since October 2024

This means inflation remains far from the Fed’s 2% target

And the message to the markets is clear

Cheap money may be delayed even further

And now all eyes are on Kevin Warsh in Jackson Hole this Friday

Will he give the market hope for a rate cut or add even more pressure

In a world where prices are rising like this

Holding assets has become more important than simply holding cash

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