© Reuters.
Data from the Personal Consumption Expenditures (PCE) index showed an uptick of 0.3% in February, lower than the 0.5% increase in January. Economists had projected a rise of 0.4%, and the PCE data suggests that inflation is gradually decreasing.
Risky assets rallied in response to the data, and some analysts expect the Federal Reserve to start cutting rates by the end of the year. The FedWatch Tool shows a 33% probability of a 50 basis point cut by December 2023.
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