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The Federal Reserve’s preferred inflation tracker shows cooling prices. Here’s the impact on rates.
An inflation measure closely tracked by the Federal Reserve slowed to its smallest annual increase in three years, prompting some Wall Street economists to forecast an increased likelihood that the central bank could cut rates in September.
The personal consumption expenditures index, or PCE, rose 2.6% in May on a year-over-year basis, the U.S. Commerce Department said on Friday. That represents its lowest increase since March 2021, according to EY senior economist Lydia Boussour in a Friday report, adding that it signals “cooler consumer spending momentum and easing inflation.”
The Federal Reserve earlier this month scaled back its forecast to just one rate cut in 2024 from its prior expectation for three reductions due to stubborn inflation, which remains higher than the central bank’s 2% annual target. Friday’s PCE numbers could portend an increasing likelihood that the Fed could cut rates at its September meeting, Wall Street economists said.
“[T]he market is now giving the Fed the green light to consider a rate cut at their September 18th meeting. Currently, the odds for a rate cut at that meeting are approximately 75%,” wrote John Kerschner, head of U.S. securitised products at Janus Henderson Investors, in a Friday email.
Excluding volatile food and energy prices, so-called core inflation rose 0.1% from April to May, the smallest increase since the spring of 2020, when the pandemic erupted and shut down the economy.
Prices for physical goods actually fell 0.4% from April to May. Gasoline prices, for example, dropped 3.4%, furniture prices 1% and the prices of recreational goods and vehicles 1.6%. On the other hand, prices for services, which include items like restaurant meals and airline fares, ticked up 0.2%.
The Fed has raised its benchmark rate 11 times since 2022 in its drive to curb the hottest inflation in four decades. Inflation has cooled substantially from its peak in 2022, yet average prices remain far above where they were before the pandemic, a source of frustration for many Americans and a potential threat to President Joe Biden’s re-election bid.
—With reporting from the Associated Press.
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How to watch the Minnesota Vikings vs. Chicago Bears NFL game today: Livestream options, more
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The Minnesota Vikings will take on the Chicago Bears today. The Vikings are currently 8-2, an impressive run so far this season, and will be looking to add a fourth win to their current streak after last Sunday’s 23-13 win against the Tennessee Titans. The Bears, on the other hand, are entering this game on the heels of a four-game losing streak after a tough 20-19 loss against the Green Bay Packers last Sunday.
Here’s how and when you can watch the Vikings vs. Bears game today, whether or not you have cable.
How and when to watch the Minnesota Vikings vs. Chicago Bears
The Vikings vs. Bears game will be played on Sunday, November 24, 2024 at 1:00 p.m. ET (11:00 a.m. PT). The game will air on Fox and stream on Fubo and the platforms featured below.
How and when to watch the Minnesota Vikings vs. Chicago Bears game without cable
You can watch this week’s NFL game on Fox via several streaming services. All you need is an internet connection and one of the top options outlined below.
Fubo offers you an easy, user-friendly way to watch NFL games on CBS, Fox, NBC, ABC, ESPN, and NFL Network, plus NCAA football channels. The Pro tier includes 200+ channels and unlimited DVR, while the Elite with Sports Plus tier adds NFL RedZone and 4K resolution. New subscribers get a seven-day free trial and all plans allow streaming on up to 10 screens simultaneously.
You can watch today’s game with a subscription to Sling’s Orange + Blue tier, which includes ESPN, ABC, NBC, and Fox. The plan offers 46 channels with local NFL games, nationally broadcast games and 50 hours of DVR storage. For complete NFL coverage, add Paramount+ to get CBS games, or upgrade with the Sports Extra add-on for additional sports channels like Golf Channel, NBA TV and NFL RedZone.
Watching NFL games, including Fox broadcasts, is simple with Hulu + Live TV, which includes 90 channels, unlimited DVR storage, and access to NFL preseason games, live regular season games and studio shows. The service includes ESPN+ and Disney+ in the subscription.
Want to watch today’s game live on your smartphone? If so, NFL+ streaming service is the solution you’re looking for. It lets you watch NFL Network and out-of-market games on mobile devices, with an upgrade option to NFL+ Premium that includes NFL RedZone for watching up to eight games simultaneously. Note that NFL+ only works on phones and tablets, not TVs.