Cooling inflation data means the Fed is in position to cut rate in June, chief economist says

• Cooling inflation data means the Fed is in position to cut rate in June, LPL's chief economist said.
• The PCE index, which is the Fed's preferred inflation gauge, decelerated to a 0.3% monthly increase, down from 0.5% in January.
• Services spending has slowed which indicates that growth in consumer spending will ease in the coming months, Jeffrey Roach said.

The latest inflation data has rolled in in line with expectations, and it's good news for those waiting on rate cuts.