Stock Market Performance

Nasdaq 100 and S&P 500 close at record highs as tech stocks lead gains. U.S. Treasury Secretary Janet Yellen expresses optimism about disinflation progress. Market anticipates rate cut in September.

Economic Analysis of April PCE Index

White House Council of Economic Advisers Chair Jared Bernstein discusses the April Personal Consumption Expenditures index, mentioning that the forces of disinflation are still in place despite a temporary stall in Q1. The overall PCE rate remains steady at 2.7%, with core PCE at 2.8%.