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Despite the US stock market being closed on Good Friday, the Bureau of Economic Analysis released the Personal Consumption Expenditures (PCE) report, showing that the month-over-month inflation was lower than expected. Federal Reserve Chair Jerome Powell also spoke at 11:30 am. The PCE data met estimates compared to last year, aligning with the Fed's goals.
The markets are closed today, but we did get some important inflation news this morning. PCE (personal consumption expenditures) vs last year met estimates and the month over month was lower than expected. This is pretty much what the FED wanted to see. The annual rate is now… https://t.co/auniH8Ie21
Even with the market closed today, PCE is going to be released in 4 minutes.
PCE report: Fed's preferred inflation gauge and Powell remarks awaited on market holiday https://t.co/cFSvWfIN8Y via @marketwatch