Fed's Preferred Inflation Measures Cool, Spending Stalls

The video discusses inflation trends, focusing on PCE data and its implications for the economy. It highlights changes in personal income and spending, noting the Fed's interest in the deflator. The service sector statistics show a decrease in core services inflation, while wages have risen. The video also covers employment forecasts, predicting a slight drop in unemployment and an increase in job numbers.

What was the change in personal income data mentioned in the text?

How did the PCE inflation rate change on a year-over-year basis?

What does the text suggest about American spending trends?

What was the reported increase in wages, and why is it significant?

What expectations were set for unemployment and job growth for July 7th?