
May core PCE hit a two-year high and made a 2026 Fed rate hike the base case. The Fed raised rates in September. What it means for US savers and borrowers.

May’s +172,000 jobs report flipped the market from pricing Federal Reserve rate cuts to pricing a hike. Here is what Kevin Warsh’s first FOMC meeting on 16-17 June means for US savers, borrowers, and retirees, and why the Fed’s balance sheet matters as much as the rate.
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