Cooling Inflation Sets Stage for Rate Cuts in US and Europe
Fed and ECB prepare for potential interest rate reductions as inflation eases and economic indicators shift focus to labor markets.
- US core personal consumption expenditures rose by 0.2% in July, reinforcing expectations of Fed rate cuts.
- Eurozone inflation fell to 2.2% in August, its lowest level in three years, driven by declining energy costs.
- The S&P 500 and Nasdaq 100 saw gains as markets anticipated monetary easing.
- Consumer spending in the US picked up, though income growth remained sluggish.
- The European Central Bank is expected to consider further rate cuts in September.
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