Fed Whispers: Core CPI is More Important for the Fed

According to a post on X by Nick Timiraos, known as the "Fed whisperer," economists predict that the overall US CPI for June may decline due to lower energy prices. However, the Fed is currently more focused on core CPI. The market expects the core CPI for June to be close to 0.21%, similar to the May level.

Going forward, the market will focus on the US PPI data and its impact on the PCE, a key inflation indicator for the Fed.