Core PCE inflation came in just as expected. It has been very tame for the last three months--but shouldn't think of them in isolation but as part of a noisy process where inflation was much higher before. Annual rates: 1 month: 2.2% 3 months: 1.7% 6 months: 2.9% 12 months: 2.7% pic.x.com/aC8vJYJWy1

A combination of weaker activity and stubborn inflation is the message from today's US data so far. Monthly growth for both personal income and spending was negative in May, and below the consensus forecasts. Core inflation was slightly above the consensus forecasts for both the

My thanks to Becky Anderson for the interesting conversation today on economic developments, the outlook, and the latest set of interactions between President Trump and Federal Reserve Chair Powell. #economy #markets @CNN @cnni @Cambridge_Uni @QueensCam #cambridgechancellor pic.x.com/9ADCnNphtE

Core PCE inflation was +0.18% in May. 12-month core prices rose 2.7% from 2.6% in April (and April was revised up from an initially reported 2.5%). Headline prices rose 0.14% in May. The 12-month reading ticked up to 2.3% (from 2.2% in April, revised up from 2.1%) pic.x.com/viQeYrI5Rl