#美联储重启降息步伐 $BTC On December 5, a long-awaited inflation report was finally released—the US Core PCE Price Index for September rose 0.2% month-over-month and 2.8% year-over-year. The monthly figure met market expectations, but the annual data was 0.1 percentage points lower than expected. This small surprise has added fuel to the Fed's ongoing rate-cutting momentum.

Specifically: Excluding food and energy, the core PCE matched expectations with a 0.2% monthly increase and came in slightly below market forecasts at 2.8% year-over-year. Overall personal consumption expenditures rose 0.3% month-over-month, with annual inflation also at 2.8%, showing essentially stable data.

Why focus on PCE? Because this is the metric the Fed is watching. Although both headline and core data are considered, policymakers prefer to use core PCE to judge long-term inflation trends—after all, oil and food prices fluctuate too much and can easily lead to misjudgments.

It’s worth noting that this report was delayed by several weeks due to the government shutdown, during which all economic data collection was paused. Now that the data is out, the market is feeling even more confident about the prospects for rate cuts. $ETH