Squawk on the Street
SOTS 2nd Hour: PCE Breakdown, Retail's "Big 5", and an Exclusive w/the CEO of American Express 11/27/24
Nov 27, 2024
The discussion kicks off with the latest PCE inflation data, shedding light on the economic health and market implications. Insights into the holiday retail landscape reveal a surge in consumer spending, particularly online. Experts emphasize the significance of small businesses facing challenges from inflation. A deep dive with the American Express CEO highlights shifting consumer behaviors. The chat also touches on potential regulatory risks in finance and the effects of upcoming government policies on the economy.
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Quick takeaways
- The PCE index shows a yearly rise to 2.3%, complicating the Fed's decisions regarding interest rates amidst persistent inflationary concerns.
- Despite mixed stock market reactions post-inflation data, sectors like real estate and healthcare demonstrated resilience, indicating a complex economic landscape.
Deep dives
Inflation Data Overview
Recent inflation data reveals an uptick in the Fed's preferred measure, the PCE index, which reported a year-over-year increase of 2.3%. This figure aligns with expectations but raises concerns as it remains higher than the desired 2% target. Core inflation, which excludes food and energy prices, held steady at 2.8%, indicating persistent inflationary pressures. Analysts noted that while consumer spending showed healthy growth, the weaker inflation trends could complicate the Federal Reserve's upcoming rate decisions.
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