US August PCE Rises 0.9% Month-on-Month, In Line With 0.9% Forecast

The significance lies less in the in-line print than in the swing from the prior reading: a jump of this size in a single month points to consumer demand reaccelerating rather than cooling. For crypto and RWA markets, the read-through is indirect — spending strength feeds into the inflation debate and, by extension, rate expectations, which have been the dominant macro driver of risk appetite. Whether this is a one-month distortion or the start of a firmer trend is the open question, and the next data points will matter more than this one.