🇺🇸 US PCE inflation came in at 3.4% YoY, below the 3.7% expected. Core PCE also came in softer than forecasts. �

Reuters +1

At the same time, the labor market is showing signs of cooling.

📉 JOLTS job openings dropped to 7.079M, down from 7.335M previously, pointing to somewhat weaker labor demand. �

Reuters

So the picture is becoming clearer:

Cooling inflation + softer labor demand = more room for the Fed to wait before another rate hike.

Markets are already reacting to the softer inflation data, with expectations for an October hike falling. But inflation is still above the Fed’s 2% target, so the next decisions will depend heavily on incoming data. �

🔥 This could be an important macro signal for stocks and crypto.

#FED #PCE #Inflation #Bitcoin #Crypto #BTC #Macro