Federal Reserve Revises Bank Stress Test as Inflation Gauge Cools
The US Federal Reserve has announced changes to its annual 'stress test' of large bank finances. The revamped test aims to make the exams more transparent and less volatile, addressing years of industry complaints.
The Personal Consumption Expenditures (PCE) index, a key inflation gauge, rose 3.4% in August, lower than expected at 3.7%. This cooling of prices may ease concerns about another interest rate hike next month.