US Fed's preferred inflation gauge hits fresh three-year high

The Federal Reserve's preferred inflation measure just hit its highest level in three years. According to Channel NewsAsia, the Personal Consumption Expenditures price index—the PCE—climbed to a fresh three-year high. That matters because the PCE is what the Fed watches most closely when deciding on interest rate policy. A higher reading suggests inflation pressures remain sticky, potentially complicating any plans for rate cuts.

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