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June PCE: Fed’s favored inflation gauge showed price growth eased

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Kroger has cheapest store-brand groceries among major chains, study finds

The Federal Reserve’s preferred inflation gauge fell in June, as the pace of price growth pulled back amid volatility in energy markets.

The Commerce Department on Thursday reported that the personal consumption expenditures (PCE) index declined 0.1% on a monthly basis in June and was up 3.7% from a year ago. Both figures were in line with the expectations of economists polled by LSEG.

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Core PCE, which excludes volatile measurements of food and energy prices, was up 0.1% on a monthly basis and 3.3% from a year ago. The monthly figure was cooler than the 0.2% predicted by the LSEG poll of economists, while the annual figure was in line with expectations.

FED POLICYMAKERS LEAVE RATES UNCHANGED AMID ELEVATED UNCERTAINTY

Federal Reserve policymakers are focused on the PCE headline figure as they try to bring inflation back to their long-run target of 2%, though they view core data as a better indicator of inflation. Compared with May’s readings, headline PCE declined from 4.1% to 3.7%, while core PCE fell from 3.4% to 3.3%.

Goods prices were up 3% in June compared with one year ago, while they were up 0.7% from the prior month.

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Services prices rose 2.3% from a year ago, while they rose 0.3% on a monthly basis.

US ECONOMIC GROWTH SLOWS UNEXPECTEDLY IN SECOND QUARTER

Shoppers inside a Kroger store.

PCE inflation eased but remained elevated in June. (Will Newton/Getty Images)

The personal savings rate as a percentage of disposable personal income was 2.7% in June, down slightly from 2.8% in May.

Since the start of 2025, the personal savings rate has declined from a peak of 5.5% in April 2025, and it began this year at 4.4%.

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What experts are saying

Bret Kenwell, U.S. investment analyst at etoro, noted that “June’s in-line PCE report did not show the same cooling reflected in the CPI report earlier this month.”

“Still, investors may be inclined to look past it. The data predates July’s sharp rebound in energy prices, which could put renewed upward pressure on inflation throughout the summer,” Kenwell explained. “As long as tensions continue driving oil prices higher, consumers could face additional pressure at the pump while markets contend with a more complicated inflation outlook.”

FED CHAIR KEVIN WARSH SAYS CENTRAL BANK HAS ‘NO TOLERANCE’ FOR ELEVATED INFLATION

Fed Chair Kevin Warsh speaks at a press conference

Federal Reserve Chair Kevin Warsh and the FOMC left interest rates unchanged on Wednesday. (Al Drago/Bloomberg via Getty Images)

Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management, said that, “Despite moderating inflation, strong domestic activity across consumption and business investment will keep the Fed diligent about the risks overheating could have on the inflation trajectory.”

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“We continue to expect the Fed to be patient as it waits for more inflation data,” Zentner added.

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Nvidia Stock: It’s Time to Stop Worrying About Circular Financing

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Nvidia Stock: It’s Time to Stop Worrying About Circular Financing

The Bank of Nvidia. When it comes to circular financing, Wall Street may have the wrong idea. Nvidia’s need to invest across the AI landscape doesn’t stem from a lack of financing options—it comes from having too much cash. Nvidia has generated $191 billion in cash flow over the last two years, with another $49 billion coming this quarter alone, according to LSEG estimates.

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E-Trade Down Today? Users Report Login and Access Problems as Outage Complaints Spike During Volatile Day

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South Korea is home to the world's largest memory chip maker Samsung, and largest memory chip supplier SK Hynix

Users of the online brokerage platform E-Trade reported widespread login and account access problems Thursday morning, with outage-tracking service Downdetector logging a sharp spike in complaints beginning around 10:33 a.m. Eastern time, in the middle of an active and volatile trading session on Wall Street.

Downdetector’s official social media account posted an alert flagging the rise in user-submitted reports shortly after the issues began, using the hashtag “#ETradeDown” to solicit further reports from affected users about how the outage was impacting them.

Frustrated customers took to social media in real time to describe their experiences trying to access the platform. One user wrote directly to E-Trade’s official account, “Hey E*Trade, your systems are down right now at 7/30/2026 at 10:34am. When is it coming back up?” Another user, describing themselves as a customer of nearly two decades, expressed frustration with the outage in a post that read, in part, “E-Trade is down… get your act together or I will leave the platform.” A separate user reported being unable to log in despite what they described as one of their best trading days, writing that the platform displayed a message indicating the website was too busy to process their request.

As of Thursday morning, E-Trade had not issued a public statement confirming a company-wide outage or explaining the specific cause of the access problems some users were experiencing. Outage-tracking services showed mixed readings on the scope of the disruption. One monitoring service reported E-Trade as operational with no significant outage detected, showing only a small number of user reports over the prior 24-hour period, while a separate outage-tracking site reported that E-Trade had been experiencing issues since approximately 10:20 a.m. Eastern time, based on a spike in user complaints that exceeded the platform’s typical baseline volume for that time of day.

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The reported issues Thursday came during an active session for U.S. financial markets more broadly, with major indexes moving significantly following a wave of high-profile corporate earnings reports, including results from Microsoft and Meta Platforms released the previous afternoon. Periods of heightened market volatility and elevated trading volume have historically coincided with increased strain on online brokerage platforms’ technical infrastructure, as a larger-than-usual number of users attempt to log in, check account balances or execute trades simultaneously.

Online brokerage outages during periods of market volatility are not without recent precedent. In August 2024, several major online brokerage firms, including Charles Schwab, Fidelity and Vanguard, experienced widespread access problems for thousands of users during one of the largest stock market selloffs of that year, with user complaints on Downdetector peaking around and shortly before 10 a.m. Eastern time on that occasion as well. Charles Schwab acknowledged the issue at the time in a statement posted to social media, saying that a technical issue was preventing some clients from logging into its platforms.

E-Trade, founded as one of the earliest online discount brokerage firms in the United States, has grown over the decades into one of the most widely used platforms for individual investors and traders to buy and sell stocks, exchange-traded funds, options, mutual funds and other financial securities. The company was acquired by Morgan Stanley in 2020, integrating its retail brokerage operations into the larger financial services firm’s broader wealth management business.

Downdetector, the platform used to track and aggregate the Thursday morning complaints, monitors user-submitted reports across thousands of websites and applications rather than directly accessing the internal systems of the companies it tracks. Because the service relies on self-reported complaints rather than direct server monitoring, spikes in reported issues can sometimes reflect a genuine platform-wide outage, while other spikes may result from more localized problems affecting a subset of users, specific devices, internet service providers or regional network issues rather than a broader systemic failure affecting the entire platform.

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For users experiencing difficulty accessing E-Trade during the reported disruption, common troubleshooting steps recommended for online brokerage access issues include refreshing the browser or app, clearing cached data, verifying that the device’s internet connection is functioning properly through other online services, and checking the company’s official social media channels or status pages for updates. If the underlying cause proves to be a service-side technical issue rather than a problem specific to an individual user’s device or connection, however, these troubleshooting steps are unlikely to resolve the access problems until E-Trade restores normal functionality on its end.

As of the most recent available information Thursday, E-Trade had not provided a public timeline for resolving the reported access issues, nor had the company responded publicly to the elevated volume of complaints registered through Downdetector and other outage-tracking platforms throughout the morning. Given the platform’s role in facilitating real-time trading, any extended access disruption during an active market session carries particular significance for affected users attempting to manage positions or execute trades in response to fast-moving market conditions.

Users continuing to experience problems accessing their E-Trade accounts were encouraged to monitor the company’s official channels directly for updates, rather than relying solely on third-party outage trackers, which can offer a useful gauge of the scale of user-reported complaints in near real time but cannot independently confirm the underlying cause or expected resolution timeline for a suspected service disruption.

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Hexcel Corporation (HXL) Q2 2026 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript