Agency: Overall, today's data may push the Federal Reserve to cut interest rates
Stuart Cole, chief macroeconomist at Equiti Capital, said the market reacted more to the PCE data than to the weaker-than-expected GDP data. Today's data is interesting. If the GDP data is confirmed in subsequent revisions, it will indicate that the US economy is finally starting to slow under the monetary tightening policy implemented by the Federal Reserve, which in turn may lead to a decline in labor demand and downward pressure on wages. But the Fed may pay more attention to the PCE data, which shows that the progress of returning inflation to target is still far from won. Overall, today's data may further push the Federal Reserve to cut interest rates.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Silk Road-linked wallet transfers $3.14 million worth of bitcoin to an unknown address after a decade of dormancy
Fogo announces that the FOGO token presale will start on December 17.
The probability of "Bitcoin reaching $100,000 again this year" on Polymarket rises to 40%

Analysis: Yilihua's recent ETH position at $2,700 has already yielded a 22.2% profit