Fed's preferred inflation gauge ticks up as tariffs lift prices — casting cloud on September rate cut
1. PCE inflation gauge rose, dampening interest rate cut hopes. 2. Core PCE increased by 0.3%, highest since February. 3. Federal Reserve held interest rates steady at 4.25%-4.5%. 4. Economic growth exceeded expectations, countering recession predictions. 5. Trump criticized Powell for not lowering rates despite pressure.