Major stock indexes (^DJI, ^IXIC, ^GSPC) are trading mixed following the release of the April Personal Consumption Expenditures (PCE) data, which came in-line with Wall Street expectations. Nationwide Chief Economist & Senior Vice PresidentKathy Bostjancic, joins Wealth! to discuss the impact of this report on potential Federal Reserve rate cuts.
Bostjancic notes that the PCE data points to a "moderation in economic activity and inflation." While the core PCE reading showed a 0.2% increase, she considers it "a much-welcomed reading" in light of significantly higher readings observed in the first quarter. She suggests that this print could prompt at least one Fed rate cut later in the year.
"In the big picture, this is good news, because the Federal Reserve wants slightly slower economic activity for inflation to trend lower going forward," Bostjancic told Yahoo Finance.
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