Markets are awaiting the release of the Personal Consumption Expenditures (PCE) index this week, the Fed's preferred inflation gauge. The career of former Fed Chair Alan Greenspan is being remembered, noting his nearly 20-year tenure across four presidential terms. On June 25, the core inflation rate hit 3.4% in May 2026, the highest since October 2023, strengthening bets that the Fed will hike rates by October.
