Latest Inflation Data Cements Fed’s Interest Rate Call, S&P 500 Hits All-Time High, Biden Adviser Backs China EV Ban At Detroit Economic Club: This Week In The Markets – Alibaba Gr Hldgs (NYSE:BABA), Meta Platforms (NASDAQ:META)
The Federal Reserve’s preferred measure of inflation, the personal consumption expenditures index, grew less than economists expected in August at 2.2% year-over-year. The data comes on the heels of the Federal Reserve’s 0.5% interest rate cut issued Sept. 18, the first in more than four years. The inflation data supports another 0.5% interest rate cut…