The Fed Is Challenged, & Red Tape Is Repricing the Miners

US data left the Federal Reserve in an uncomfortable position. Core PCE for July rose 0.2% month on month and 3.3% year on year, both in line with consensus, while headline PCE came in firmer at 3.7%, a tenth above expectations1. As the Fed’s preferred measure, it points to inflation that remains stubborn and limits […]
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