Core inflation rate rose to 2.9% in July, as expected, key Fed measure shows
1. July's core inflation increased to 2.9%, pointing to tariff impact. 2. Personal consumption expenditures align with forecasts, indicating economic strength. 3. Fed's target inflation is 2%, heightening interest rate cut expectations. 4. Consumer spending rose 0.5%, showing resilience despite inflation pressures. 5. Stock futures dipped after inflation data; Treasury yields maintained gains.