US July PCE inflation beats forecast at 3.7% vs 3.6%
US July PCE inflation rose to 3.7% versus expectations of 3.6%. Core PCE registered 3.3%, the second-highest reading since October 2024. Inflation remains near double the Federal Reserve’s 2% target: data imply persistent price pressures and increase the likelihood of tighter or prolonged restrictive monetary policy, which typically weighs on risk assets, including cryptocurrencies.
