The slowdown in US PCE inflation may make it unnecessary for the Fed to remain aggressive in its interest rate policy

Odaily News U.S. stock futures rebounded to intraday highs on Friday after the Federal Reserve's favorite underlying inflation indicator matched June's expectations, raising optimism that the central bank is making progress on inflation and does not have to remain aggressive on interest rate policy. The core PCE index, which excludes volatile food and energy items, rose 0.1% month-on-month in June, in line with expectations, according to the Labor Department. (Jinshi)