The U.S. core PCE in October recorded the largest increase since April, supporting the Federal Reserve's cautious stance

In October, the core PCE price index in the United States rose by 2.8% year-on-year, the largest increase since April, reflecting rising service prices and supporting the Federal Reserve's cautious approach to interest rate cuts. The PCE price index in October increased by 2.3% year-on-year and 0.2% month-on-month. Economists pointed out that the rise in the core PCE price index is related to the stock market's increase, and future Federal Reserve policies will be influenced by Trump's economic agenda. In October, personal spending in the United States grew by 0.4% month-on-month, and the initial annualized quarterly GDP growth rate for the third quarter was 2.8%