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Michael Strain

American Enterprise Institute
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BullInflation 2026-08-12
Michael Strain (AEI) says July data imply core PCE running at a 3.3% annual rate, up considerably from a year ago.
The data we have this morning is consistent with core PCE coming in at a 3.3% annual rate. That is up considerably from this time last year.
NeutralThe Fed 2026-08-12
Michael Strain says core PCE up considerably from 15-16 months ago leaves the Fed in a hard place, with no easy path to cutting.
It's actually up considerably from 15-16 months ago and I think that leaves the Fed in a hard place.

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