Trade policy is not the Fed’s responsibility, but inflation definitely is, and the US central bank will act appropriately to elevate its favorite price measure back to its target. On Friday at 1230 GMT, July’s core PCE index will likely call for further monetary easing. The dollar, though, may shrug off the data and keep the focus on trade headlines as a rate cut is fully priced in by the markets. Speaking at the Jackson hole annual symposium, Fed chair [..]
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