Preview: The annual rate of the core PCE price index in July and the final value of the University of Michigan Consumer Confidence Index in August will be announced tonight

According to BlockBeats, on August 29, according to the schedule, the annual rate of the core PCE price index in July will be announced at 20:30 Beijing time tonight, while the final value of the University of Michigan Consumer Confidence Index in August will be announced at 22:00. According to forecasts, the PCE price index rose 0.3% month-on-month in July, the same as last month. If the forecast is fulfilled, PCE inflation will rise from 2.8% to 2.9%, the highest level since February this year, and will also be the third consecutive month of rising. Economists say high inflation could limit the room for further rate cuts later this year. Some believe that only a surge in CPI inflation data released in August, released two weeks later, could prompt the Fed to reconsider its rate cut at its Sept. 16-17 meeting. (Jin Shi)