Unconvincing price moves as the economy cools 💵

Meanwhile, stocks suffer 📉

The core PCE price index seems to have peaked.

Inflation data released last week was mixed. It certainly wasn’t the “clear and convincing” evidence of cooling prices that the Federal Reserve has been looking for.

The core PCE price index — the Fed’s preferred measure of inflation — climbed 4.7% in May from a year ago (chart above), which was cooler than t…