US core PCE inflation holds at 2.9% in August as Fed weighs further rate cuts

Core Insights - The Federal Reserve's preferred inflation gauge, the core personal consumption expenditures (PCE) price index, showed minimal progress in August, indicating persistent inflationary pressures [1] - This trend is anticipated to influence the Federal Reserve's decision-making regarding upcoming interest rate cuts [1] Economic Indicators - The Commerce Department reported that the core PCE price index rose by 2% in August, reflecting ongoing inflation concerns [1]