The Federal Reserve's preferred inflation indicator is above the target, and consumer spending growth remains strong

ChainCatcher news, according to Jinshi reports, data released by the United States on Friday showed that the Fed's preferred inflation indicator remained above target last month, with consumer prices rising 0.3% month-on-month in August, bringing PCE inflation to 2.7% over the past year, up from 2.6% last month, while the core indicator remained at 2.9%. At the same time, consumer spending remained strong in August, with a growth rate of 0.6%, higher than July's 0.5%. This data poses challenges for the Fed's decision-making.