What the Fed Makes of Core PCE at 3.4 Percent

The Federal Reserve Podcast with Fexingo: Interest Rates, FOMC Meetings, and Monetary Policy · Jun 29, 2026 · 7m · transcript

Core PCE hit 3.4% in May 2026, the highest since October 2023. Lucas and Luna break down why this number matters more than CPI, what it tells us about sticky services inflation, and how the Fed is likely to respond. They dig into the components—housing, healthcare, financial services—and what the data says about the Fed's credibility on its 2% target. No hot takes, just a clear-eyed look at the Fed's preferred gauge and what it means for rates.

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