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The Carlyle Group co-founder and co-chairman David Rubenstein discusses President Donald Trumps treatment of Fed Chair Jerome Powell on The Claman Countdown.
The Federal Reserve’s preferred inflation gauge showed that prices ticked slightly higher in May as the central bank waits for signs of tariff-induced inflation reaching consumers this summer.
The Commerce Department on Friday reported that the personal consumption expenditures (PCE) index rose 0.1% on a monthly basis and 2.3% compared with a year ago. Those figures are largely in line with LSEG estimates, while the annual headline figure was up from 2.1% last month.
Core PCE, which excludes volatile food and energy prices, was up 0.2% from a month ago and 2.7% on an annual basis, slightly higher than LSEG estimates.
Federal Reserve policymakers are focusing on the PCE headline figure as they try to bring inflation back to their long-run target of 2%, though they view core data as a better indicator of inflation. Headline PCE was up from 2.1% in April, while core PCE also ticked higher from 2.5%.
Prices for goods rose 0.1% on both an annual and monthly basis. Durable goods prices were flat compared with the prior month and 0.5% higher than a year ago, while prices for nondurable goods up 0.1% for the month and down 0.2% from last year.
Services prices were up 0.2% in May compared with the prior month and were 3.4% higher than a year ago.
This is a developing story. Please check back for updates.
