US Core PCE rose 0.2% in July while consumer spending stalled. Rate cut in next three Fed meetings at 0.1% YES.

The personal consumption expenditures price index was expected to rise 0.1% monthly and 3.6% on a 12-month basis, according to economists surveyed by Dow Jones.

The US Federal Reserve's preferred inflation gauge rose 3.7% annually in July, while core PCE held at a 3.3% rate.

Core PCE inflation for July is at 3.3%, above the Fed's 2% target. Rate cut in next three meetings at 0.1% YES.