PCE Confirming The CPI Data

<p>"Economic data continues to support the Federal Reserve's aggressive tightening cycle, which will likely result in a recession. It is possible that the Fed may begin to signal that the end of the tightening cycle is near. The PCE is already confirming what we saw with the CPI data. Inflation is still high with the drivers being food and shelter costs. Services like restaurants and transportation are increasing rapidly," says Dana Peterson. </p>