US Personal Consumption Expenditures Tap Record Highs, Stanford Economist Says Fed Should Increase Rates Above 9%

US Personal Consumption Expenditures Tap Record Highs, Stanford Economist Says Fed Should Increase Rates Above 9%


On July 29, the U.S. Bureau of Economic Analysis reported on America’s personal consumption expenditures (PCE) price index for the month of June, and the figure saw the largest 12-month increase since 1982. On the same day, Stanford University’s senior fellow at the Hoover Institution and professor of economics, John Cochrane, said the Federal Reserve should increase rates above 9% to tame inflation.

PCE Price Index Increased 4.8 Percent From One Year Ago

The U.S. economy continues to look gloomy every time a new economic report or data is released to the general public. In mid-July, the Bureau of Labor Statistics Consumer Price Index (CPI) report was published, and it revealed June’s CPI data reflected a record peak 9.1% year-over-year increase. On July 27, the

Trending: Ilhan Omar Voted Out Today?

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend