Fed’s Wait-and-See on Rate Cuts Makes Sense amid Whiplash Data: Still Worst 6-Month “Core” PCE Inflation since mid-2023 but Freak Plunge in Durable Goods

Housing inflation was hot and accelerated in May, amid crazy whiplash-data in other services.
By
Wolf Richter for WOLF STREET.
The Fed’s primary yardstick for its 2% inflation target, the “core” PCE price index, which excludes the volatile
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