Latest news with #BureauOfEconomicAnalysis
Yahoo
01-08-2025
- Business
- Yahoo
Bitcoin, Ethereum, XRP tumble on shocking inflation report
Bitcoin, Ethereum, XRP tumble on shocking inflation report originally appeared on TheStreet. The personal consumption expenditures (PCE) price index rose 0.3% on a monthly basis and 2.6% on a year-to-year (YoY) basis in June. Core PCE, which excludes volatile food and energy prices, in June was up 0.3% on a monthly basis and 2.8% on an annual basis. The crypto market immediately dipped in reaction to the news. Bitcoin fell 0.11% in an hour to $118,327.92, Ethereum fell 0.75% to $3,815.08, and XRP fell 0.81% to $3.11. BNB fell 0.56% to $795.14 and SOL also fell 1.25% to $ Bureau of Economic Analysis defines the PCE price index as a key inflation indicator that measures the prices that people living in the U.S., or those buying on their behalf, pay for goods and services. The index is known for capturing inflation across a wide range of consumer expenses and reflecting changes in consumer behavior. The Federal Reserve decided to keep the interest rates unchanged at 5.25%-5.5% at its July 30 meeting, and Chair Powell didn't indicate any potential cut in interest rates in September, saying the central bank will factor in more data and information until it makes the rate decision in the next Sep. 16-17 meeting. Since PCE is one of the most closely watched inflation indicators by the Fed, the June hike seems to have dented any hope for a potential cut in interest rates in September. The total crypto market cap stood at $3.88 trillion at the time of writing. Bitcoin, Ethereum, XRP tumble on shocking inflation report first appeared on TheStreet on Jul 31, 2025 This story was originally reported by TheStreet on Jul 31, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
31-07-2025
- Business
- Yahoo
Bitcoin, Ethereum, XRP tumble on shocking inflation report
Bitcoin, Ethereum, XRP tumble on shocking inflation report originally appeared on TheStreet. The personal consumption expenditures (PCE) price index rose 0.3% on a monthly basis and 2.6% on a year-to-year (YoY) basis in June. Core PCE, which excludes volatile food and energy prices, in June was up 0.3% on a monthly basis and 2.8% on an annual basis. The crypto market immediately dipped in reaction to the news. Bitcoin fell 0.11% in an hour to $118,327.92, Ethereum fell 0.75% to $3,815.08, and XRP fell 0.81% to $3.11. BNB fell 0.56% to $795.14 and SOL also fell 1.25% to $ Bureau of Economic Analysis defines the PCE price index as a key inflation indicator that measures the prices that people living in the U.S., or those buying on their behalf, pay for goods and services. The index is known for capturing inflation across a wide range of consumer expenses and reflecting changes in consumer behavior. The Federal Reserve decided to keep the interest rates unchanged at 5.25%-5.5% at its July 30 meeting, and Chair Powell didn't indicate any potential cut in interest rates in September, saying the central bank will factor in more data and information until it makes the rate decision in the next Sep. 16-17 meeting. Since PCE is one of the most closely watched inflation indicators by the Fed, the June hike seems to have dented any hope for a potential cut in interest rates in September. The total crypto market cap stood at $3.88 trillion at the time of writing. Bitcoin, Ethereum, XRP tumble on shocking inflation report first appeared on TheStreet on Jul 31, 2025 This story was originally reported by TheStreet on Jul 31, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
31-07-2025
- Business
- Forbes
Inflation Hit 2.6% in June, Fed's Favorite Gauge Shows
The Federal Reserve's preferred inflation measurement rose more than expected in June, according to federal data released Thursday, raising questions about whether the agency will soon lower interest rates after deciding against a cut during its latest meeting. The latest measurements for inflation come well above the Federal Reserve's 2% goal. Getty Images Annual inflation was 2.8% in June, according to core personal consumption expenditures (PCE) price index data released Thursday by the Bureau of Economic Analysis, surpassing consensus economist forecasts of 2.7%, according to FactSet. Core PCE inflation, the Fed's favored gauge of price changes that excludes the more volatile food and energy markets, remained above the agency's 2% target for the 52nd consecutive month. Headline PCE inflation was 2.6%, an uptick of 0.3% from May, surpassing estimates of 2.5%. This is a developing story.
Yahoo
28-07-2025
- Business
- Yahoo
What To Expect From Wednesday's Report On GDP
Key Takeaways The economy likely grew at an annual rate of 2.3% in the second quarter, up from a 0.5% decrease in the first quarter, according to forecasts. The bounce-back could reflect a decline in imports following a surge in the first quarter. Several economists said tariffs and high interest rates are dragging on economic growth.U.S. economic growth is expected to have rebounded in the second quarter, but experts say this week's report on the Gross Domestic Product may not say much about the economy's actual health. A preliminary report on Wednesday from the Bureau of Economic Analysis is expected to show the U.S. economy grew at an annual rate of 2.3% in the second quarter, according to a survey of economists by Dow Jones Newswires and The Wall Street Journal. That's an improvement from the first quarter, when GDP shrank at a 0.5% annual rate. However, the growth rate would be slightly below the 2.5% average since is widely watched as a barometer for the health of the economy, and an indicator of whether the standard of living is improving or getting worse for U.S. residents. This time around, however, the GDP report may be harder to parse than usual, economists said. Trade, Monetary Policies Muddy Economic Measure Companies scrambled to bring in products ahead of tariff deadlines, dragging GDP down in the first quarter. Imports are counted against economic growth to avoid transactions being double-counted in the official figures. Similarly, a drop-off in imports in the second quarter may make the economic growth look faster than it actually economy is facing several headwinds, including President Donald Trump's trade war and the Federal Reserve's war on inflation, which have kept borrowing costs high for all kinds of loans."The economy's underlying momentum likely remained weak following the hit from the tariff shock and the ongoing drag from high interest rates, with consumption rising only modestly and investment falling," economists at Pantheon Macroeconomics, led by Samuel Tombs, Chief U.S. economist, wrote in a data could add to recent evidence that consumer spending, the biggest part of the GDP, is barely keeping up with inflation."Cautious consumers are largely behind the slowdown," Mark Zandi, chief economist at Moody's Analytics, wrote on the social media platform X. "Real consumer spending has gone nowhere since the end of last year, and with the release of the June data this week, we will see that consumers are still on the sidelines. And this is before the tariff-related price increases kick into full swing."Whatever Wednesday's report shows, it likely won't be the last word on economic growth in the second quarter: the bureau is scheduled to revise the GDP figure twice, as new data comes in. Read the original article on Investopedia
Wall Street Journal
27-06-2025
- Business
- Wall Street Journal
Personal Income Data Skewed by Social Security ‘Catch-Up' Payments
A drop in personal income in May data released Friday is largely attributable to an anomaly in Social Security payments, according to Troy Ludtka, senior U.S. economist at SMBC Nikko Securities Americas. Personal income decreased 0.4% from the prior month in May, according to estimates released today by the U.S. Bureau of Economic Analysis. While this was a miss compared with many analysts' estimates of a 0.3% increase, the data isn't concerning to Ludtka, he said in a note. Federal policy changes raised benefits for some government retirees, and 'catch-up payments" boosted April's income data. Now, May's data shows a reversal, with Social Security payments falling 7.3% in May from a month earlier.
