The Fed is a group of people who decide how much money should cost. They look at different numbers to see if prices are going up too fast or too slow. One of the numbers they look at is called the PCE, which tells them how much people spend on things. Lately, the PCE number has been showing that prices are not going up too fast, which is good for the Fed. Some people think the Fed might lower the cost of borrowing money in September and December, which could help the economy grow. Read from source...

- The Fed's favorite inflation gauge keeps falling, but the Fed wants a "durable downward trend" before cutting rates.
- The PCE price index rose 2.5% on an annual basis in June, down from a 2.6% jump in May.
- The core PCE index remained at 2.6% last month and from a year ago, missing an expected decline to 2.5%.
- The Fed should be able to stick to its plan to cut rates in September and December as long as inflation data keeps coming in like it has — "not too hot and not too cold."
- The lower two-year and 10-year Treasury yields ensure that Friday's PCE report will confirm for the Fed's Federal Open Market Committee that inflation will maintain a downward trend.
- Next week's earnings reports from a heavy package of mega-cap tech names will be a crucial test for a market that is trying to find direction amid mixed economic data and underpinned by a historically negative seasonal pattern.

The article is a mix of facts and opinions, with no clear structure or main argument. It lacks a conclusion that summarizes the main points and provides a final judgment on the topic. The article could be improved by:

- Clarifying the main question or issue that the article is addressing: Is the Fed likely to cut rates in September and December?
- Providing more evidence and analysis to support the main points and counterarguments, such as comparing the PCE index with other inflation indicators, explaining the factors that influence the Fed's decisions, and discussing the potential impacts of cutting or keeping rates on the economy and investors.
- Organizing the article into clear paragraphs with topic sentences, transitions, and concluding sentences that link back to the main question or issue.
- Writing in a clear, concise, and objective tone, avoiding jargon, emotional language, and personal opinions.
- Including a summary or a call to action at the end of the article that invites the reader to learn more, comment, or take action based on the information provided.

The article could be rewritten as follows:

Title: Fed's Favorite Inflation Gauge Keeps Falling But Fed Wants 'Durable Downward Trend,' Economist Says

Key points:
- The PCE price index, the Fed's preferred inflation indicator, fell to 2.5% in June, down from 2.6% in May, but remained above the Fed's 2% target.
- The core PCE index, which excludes food and energy, also stayed at 2.6% last month and from

- Zaccarelli: The Fed should cut rates in September and December if inflation data keeps coming in 'not too hot and not too cold,' economist says.