« The Fed feels as though it has won the battle on inflation and its primary focus is making sure the job market stays steady, » Clark Bellin said
US stocks rose on Friday after cool inflation data suggested that the Federal Reserve has more room to cut interest rates.
The personal consumption expenditures price index, which is considered the Fed’s preferred inflation measure, increased 0.1% in August, in-line with economist estimates.
On a year-over-year basis, the PCE Index rose 2.2%, slightly below economist estimates of 2.3%.
According to Bellwether Wealth chief investment officer Clark Bellin, the data shows that the Fed was right in starting its interest rate cuts with a 50 basis point move last week.
« The Fed feels as though it has won the battle on inflation and its primary focus is making sure the job market stays steady », Bellin said in an email to Business Insider.
