PCE Report: Fed's Preferred Inflation Gauge Rises 3.7% In June, GDP Grows At A Slower-Than-Expected Pace In Q2

The Fed's preferred inflation gauge, the PCE price index, rose 3.7% in June on an annual basis.

Core PCE, which excludes food and energy, also met analyst forecasts.

Second-quarter GDP grew at a slower-than-expected pace, missing Wall Street expectations.