The Federal Reserve's most closely monitored inflation measure — the Personal Consumption Expenditure price index — reached its lowest level since March 2021 in May, registering an annual rate of 2.6%, in line with economist expectations. The inflation figures released Friday indicate that price pressures are trending toward the Fed's 2% target, solidifying market expectations for interest rate cuts. September is now seen as the most likely month for the first rate cut, followed by another by the end of the year, and potentially three more next year, according to market prediction data. The first presidential debate concluded with a spike in Donald Trump's win probabilities to about 60%, as President Joe Biden's performance was widely viewed as disappointing. The odds of Biden ...