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Personal Consumption Expenditures (PCE) index inflation dropped to its lowest point since March 2021 in November, reinforcing the market’s i...
The Personal Consumption Expenditures (PCE) index inflation dropped to its lowest since March 2021, with economists weighing in on Fed's strategy for rate reductions in 2024.,The market continued to demonstrate resilience, with the SPDR S&P 500 ETF Trust (ARCA: SPY) experiencing a slight uptick, rising by 0.3%.
The Fed left interest rates at a 22-year high but forecast three cuts next year.
The Fed's dovish shift elicited a range of reactions from financial experts and economists, with some seeing early signs of a rally and others cautioning against over-optimism.
Bond yields also tumbled to their lowest level since September as the lowest core inflation reading in two years boosted equity markets.