Finance
US financial news live updates: Social Security checks, SNAP payments, inflation…
Hello and welcome to AS USA’s live blog covering financial news
A new batch of economic data will be released this week, including the May Personal Consumption Expenditure Price Index (PCE). This inflation measure is the preferred data for the Federal Reserve on how prices are rising.
While the US central bank held off raising rates when they met this month, Chair Jerome Powell has made it clear that rates are expected to rise further before the year is out. The Federal Open Market Committee is due to meet again in July.
Initial unemployment claims rose to 264,000 last week, up slightly from a week prior. The higher numbers could portend a softening of the labor market that has remained incredibly tight aided by consumers continuing to spend despite the rising cost of living.