Fed chief Powell says he thinks core inflation picked up a bit in June

MarketWatch | Jul 16, 2019 at 5:00 PM
  • Federal Reserve Chairman Jerome Powell said Tuesday that the central bank now estimates that a key measure of core inflation increased in June to its highest level in four months but added that, despite the acceleration, inflation pressures “remain muted”.
  • The PCE price index is the Fed’s favorite measure of price changes.
  • Core PCE inflation last hit the Fed’s 2% annual target last July, the first time it had hit the target since 2012.