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Jessica Langley

Loan Officer
Movement Mortgage
NMLS ID # 1964889
210 N Marion Ave, Ste 219, Lake City, FL 32055
Dial Phone Number
p: (386) 867-1897
f: (727) 220-4381
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e: jessica.langley@movement.com

Inflation Cooling: September Rate Cut Ahead?

By: Movement Staff
June 28, 2024
The Core Personal Consumer Expenditure (PCE) Index is the Federal Reserve's preferred measure of inflation, often considered more comprehensive than the Consumer Price Index (CPI) due to its broader scope and adjustment for changes in consumer behavior. The latest Core PCE data for May shows a year-over-year increase of 2.6% and remains flat month-over-month, supporting the recent trend of cooling inflation. This trend could bolster the possibility of a September rate cut by the Federal Reserve, as lower inflation reduces the urgency to maintain higher interest rates.

Inflation expectations significantly influence actual inflation by affecting consumer and business behavior. With surveys indicating a decrease in short- and mid-term inflation expectations, this trend could help keep actual inflation in check, reinforcing the argument for a September rate cut.
Author: Movement Staff

The Market Update is a weekly commentary compiled by a group of Movement Mortgage capital markets analysts with decades of combined expertise in the financial field. Movement's staff helps take complicated economic topics and turn them into a useful, easy to understand analysis to help you make the best decisions for your financial future.

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Jessica Langley
Loan Officer
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210 N Marion Ave, Ste 219, Lake City, FL 32055
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NMLS # 1964889

State License #FL-LO70747, GA-1964889