The Fed’s preferred inflation gauge shows prices rising at fastest pace in 3 years
The Personal Consumption Expenditures index — the Federal Reserve’s preferred inflation measure — rose at a 4.1% annual rate in May, highlighting the central bank’s challenge in reining in prices. The reading matched economists’ forecasts for the PCE report to come in at 4.1% annually, according to financial data service FactSet. That compares with an … Read more