PCE INFLATION SEEN AT 3.6% IN JULY Oxford Economics expects the Fed’s preferred inflation gauge, headline PCE, to rise 3.6% year-over-year in July, easing slightly from 3.7% in June. The report is due later this month. With services inflation cooling and the labor market showing little sign of overheating, Oxford Economics expects the Fed to keep rates unchanged for the rest of 2026.(*Walter Bloomberg)