
Hot Core PCE at 2.7% Pressures Fed, Delays Rate Cut Hopes
Personal income declines, spending slows Personal income fell 0.4% in May after an increase of 0.7% in April, a decline of $ 109.6 billion. Disposable personal income has declined by 0.6%, which reflects high tax burden and slow wage hike. Meanwhile, individual consumption expenditure declined by 0.1%, a fall of $ 29.3 billion to indicate…