Fed's favored inflation gauge shows cooling price pressures, clearing way for more rate cuts
World BusinessSept 27, 2024
The Federal Reserve's preferred inflation measure on Friday provided the latest sign that price pressures are easing, a trend that is expected to fuel further Fed interest rate cuts this year and next. Prices rose just 0.1 percent from July to August, the Commerce Department said, down from the previous month’s 0.2 percent increase. Compared with a year earlier, inflation fell to 2.2 percent, down from 2.5 percent the previous month and barely above the Fed's 2 percent inflation