Latest economic data could lead to interest rate cuts
Spectrum News: Mark Schweitzer, adjunct professor at Weatherhead School of Management, said that as the PCE Price Index rose 0.2% in July and 2.5% year-over-year—nearing the Federal Reserve’s 2% target—the Fed may consider another rate cut, which would benefit Americans making large purchases. “It’s very reassuring to be in this place where we’re seeing inflation decline and we’re seeing a labor market that, while not quite as strong as a few months ago, is still in a healthy position,” Schweitzer said.