The U.S. May PPI report further confirms that inflationary pressures are easing
According to a report by JIN10 on June 13th, the annual rate of US PPI in May was 2.2%, with an expected rate of 2.5% and a previous value of 2.2%. The monthly rate of US PPI in May was -0.2%, with an expected rate of 0.1% and a previous value of 0.5%. The unexpected decline in US PPI in May was the largest in seven months, further proving that inflationary pressures are easing. Data released by the US Bureau of Labor Statistics on Thursday showed that PPI representing final demand fell 0.2% from the previous month and rose 2.2% from the same period last year. Prior to the release of the PPI report, May consumer price data also showed a general cooling of the economy. Since July last year, Fed officials have kept the benchmark interest rate at its highest level in more than 20 years. The Fed's dot plot on Wednesday showed that they expect to cut interest rates only once this year while waiting for further progress on inflation.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
TRON holds above key support, targets $0.3541 as network hits 439 TPS
Crypto’s Forgotten Middle Ground Is Stirring: 4 Altcoins With Room to Surprise 100x This Month
AI Fund Liquidation Impacts Proprietary Trading Giant, Jane Street Suffers Rare $15 Billion Monthly Loss and Rushes $11 Billion Debt Restructuring
According to reports, Jane Street has recorded its first monthly loss in a decade, suffering a significant loss in July. However, its net trading income for the year still exceeds $40 billion and is likely to set a new annual record. The losses are not entirely due to its investment in Situational Awareness; its long positions in non-AI Asian stocks have also suffered. This week, Jane Street is advancing about $14.6 billion in bond financing, led by JPMorgan Chase and involving major institutional investors such as Pimco and Fidelity. To restructure its debt, Jane Street is shifting more debt to private markets and is even willing to bear significantly higher financing costs in exchange for reduced public disclosure.
Chicago Fed President Goolsbee: Recent Cooling in Inflation is Encouraging, But More Data Needed to Confirm Return to 2% Target
Chicago Federal Reserve President Goolsbee stated that he is encouraged by the recent cooling of U.S. inflation, but he would like to see similar improvements in the coming months before being convinced that prices are continuously returning to the Federal Reserve's 2% target.
Crypto prices
More
