U.S. Treasury Secretary Scott Bessent has indicated that core inflation in the United States, excluding energy-related segments, remains very subdued. This statement follows recent data showing that core inflation, measured by the CPI less food and energy, stood at 2.9% year-over-year in May 2026 and core PCE at 3.3% in April 2026, both above the Federal Reserve’s 2% target. Bessent’s comments suggest that the trend of decreasing core inflation could alleviate some concerns over inflationary pressures. Market participants are closely monitoring these developments, which may influence expectations for future monetary policy adjustments by the Federal Reserve.
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