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July's PCE number was in line with expectations, and some say it's another sign that the Federal Reserve needs to start cutting interest rates.
The number from last month checked in at 0.2%, with the year over year number actually coming in better than expected at 2.5%. Fox Business contributor Mike Lee says the time is now right for interest rates to start coming down.
"All signs are flashing go," Lee said.
And trader Pete Najarian says the cuts shouldn't be a one time thing either.
"Powell has been more patient than most people want him to be. This could influence not just September, but November and December as well.
The next Federal Reserve meeting is scheduled for September 17th.