The June Personal Consumption Expenditures (PCE) data came in line with expectations,. Yahoo Finance Senior Reporter Jennifer Schonberger joins Wealth! to break down the print and how it may impact the possibility of a September interest rate cut from the Federal Reserve.

Schonberger explains that the June PCE reading is good news for the Federal Reserve as it continues to tackle inflation. The print provided yet another data point strengthening the possibility of an interest rate cut in September. She notes that the Fed "can't commit wholeheartedly because we still are going to get some more data for July and August. But it seems to be moving in the right direction."

While many still struggle with inflation and don't feel the growth in the economy, Schonberger notes that the path to recovery will be "choppy." She explains, "People are feeling inflation, but wages are also growing at a faster rate than inflation. So they're going to grow, but they're still going to be able to pay the piper."

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This post was written by Melanie Riehl