Steve Rattner(@SteveRattner):PCE inflation last month was 3.7% — still almost double the Fed target — in stark contrast to Trump's promises. It was down from May given the brief lapse in the Iran War, but it will likely bounce back up in the next reading after Trump shredded his proposed peace deal.

Steve Rattner

@SteveRattner

Former head of Obama Auto Task Force. Wall Street financier. Contributing Writer to NY Times Op-Ed. Morning Joe Economic Analyst. 🌐

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Steve Rattner@SteveRattner

2026.07.31 18:10

PCE inflation last month was 3.7% — still almost double the Fed target — in stark contrast to Trump's promises. It was down from May given the brief lapse in the Iran War, but it will likely bounce back up in the next reading after Trump shredded his proposed peace deal.