MARKET REPORT Review: – Headline PCE matches forecast but Core slows– Headline +0.3% vs Exp +0.3% Prev +0.3%– Core +0.2% vs Exp +0.3% Prev +0.3%– US Personal Spending +0.2% vs Exp +0.3%– US Personal Income +0.3% vs Exp +0.3% Prev +0.5%– Chicago PMI hits 4yr low – Musk states ‘great damage done to the public…
MARKET REPORT Review:– HAWKISH FOMC Minutes showed some Fed members feared that despite a ‘restrictive’ monetary policy, financial conditions were too easy: – “A number of participants noted uncertainty regarding the degree of restrictiveness of current financial conditions and the associated risk that such conditions were insufficiently restrictive on aggregate demand and inflation. Although monetary policy was seen as…