The Federal Reserve’s preferred inflation measure, the Personal Consumption Expenditure (PCE) price index, is set to be released on Thursday at 8:30 a.m. ET. Investors and policymakers alike are hoping the data will reaffirm the current disinflationary trend, which could solidify expectations for continued Fed rate cuts in 2024 and into 2025. Market expectations currently show a nearly certain probability of a rate cut at the Fed’s upcoming meeting next week, according to the CME FedWatch tool. However, the December rate decision remains more uncertain, with market-implied odds at roughly 70% …