U.S. December core PCE inflation exceeded expectations, reinforcing the expectation that the Federal Reserve will not cut interest rates before June

According to Jinshi, the U.S. December core PCE inflation exceeded expectations, and inflation in January is expected to accelerate further, strengthening the market's expectation that the Federal Reserve will not cut interest rates before June. Data from the U.S. Bureau of Economic Analysis shows that the core PCE index, excluding food and energy prices, rose 0.4% month-on-month in December, while economists had predicted a 0.3% increase. The core PCE inflation rate rose 3% year-on-year, up from 2.8% in November.