Odaily News The Fed's preferred PCE inflation measure posted its biggest monthly gain since April, supporting the Fed's move to slow the pace of rate cuts after a sharp cut last month. The core PCE price index rose 0.3% month-on-month in September, and the annual rate of the PCE price index in September was 2.1%, the lowest level since early 2021 and slightly above the Fed's 2% target. Consumer spending adjusted for inflation rose 0.4%, supported by a 0.1% increase in real income. The savings rate fell to 4.6%. The data released tonight capped a month of unexpected upside in major economic reports, which may indicate that the Fed will take a cautious approach to rate cuts in the coming months. The market generally expects the Fed to cut interest rates for the second time in November after the first cut in September. (Jinshi Data APP)