Global News on Nostr: Signs of easing inflation stoke U.S. Fed rate cut hopes ========== Consumer prices in ...
Signs of easing inflation stoke U.S. Fed rate cut hopes
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Consumer prices in the U.S. economy are continuing to ease, with prices remaining flat from April to May and rising 2.6% from a year earlier. Core inflation, excluding food and energy prices, rose 0.1% from April to May and was up 2.6% from a year earlier. Prices for physical goods fell 0.4% from April to May, while prices for services ticked up 0.2%. The Federal Reserve has emphasized that it won't cut interest rates until it has 'greater confidence' that price increases are slowing sustainably to its 2% target. If the trend of easing inflation continues for another two months, the Fed may consider a rate cut in September. Rate cuts would eventually lead to lower borrowing rates for consumers and businesses. The latest figures suggest that inflation pressures are continuing to ease, though more slowly than last year. The Fed favors the personal consumption expenditures price index, which showed that inflation eased in May for a second straight month. Consumer spending and incomes both picked up in May, with spending rising 0.3% and after-tax income rising 0.5%, the biggest gain since September 2020.
#Inflation #FederalReserve #InterestRates #Economy
https://globalnews.ca/news/10594096/may-inflaiton-us-federal-reserve-rate-cuts/
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Consumer prices in the U.S. economy are continuing to ease, with prices remaining flat from April to May and rising 2.6% from a year earlier. Core inflation, excluding food and energy prices, rose 0.1% from April to May and was up 2.6% from a year earlier. Prices for physical goods fell 0.4% from April to May, while prices for services ticked up 0.2%. The Federal Reserve has emphasized that it won't cut interest rates until it has 'greater confidence' that price increases are slowing sustainably to its 2% target. If the trend of easing inflation continues for another two months, the Fed may consider a rate cut in September. Rate cuts would eventually lead to lower borrowing rates for consumers and businesses. The latest figures suggest that inflation pressures are continuing to ease, though more slowly than last year. The Fed favors the personal consumption expenditures price index, which showed that inflation eased in May for a second straight month. Consumer spending and incomes both picked up in May, with spending rising 0.3% and after-tax income rising 0.5%, the biggest gain since September 2020.
#Inflation #FederalReserve #InterestRates #Economy
https://globalnews.ca/news/10594096/may-inflaiton-us-federal-reserve-rate-cuts/