The Westerly Sun on Nostr: Fed's favored inflation gauge shows cooling price pressures, clearing way for more ...
Fed's favored inflation gauge shows cooling price pressures, clearing way for more rate cuts
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The Federal Reserve's preferred inflation measure indicates easing price pressures, with prices rising just 0.1% from July to August 2024, down from 0.2%. Year-over-year inflation fell to 2.2%, down from 2.5% in July, nearing the Fed's 2% target. Core prices also rose 0.1%, marking the fourth consecutive month below a 2% annual rate. The Fed cut its benchmark interest rate by half a point last week, with expectations for further cuts in November and December 2024. Economic growth was reported at 3% for the April-June quarter, with consumer spending and income rising slightly by 0.2%. The savings rate increased to 4.8%. Samuel Tombs from Pantheon Macroeconomics stated, 'Sticky inflation is yesterday’s problem.'
#FederalReserve #Inflation #InterestRates #Economy #ConsumerSpending #CorePrices #EconomicGrowth #SavingsRate #Polling #Trump
https://www.thewesterlysun.com/daily-news-alerts/feds-favored-inflation-gauge-shows-cooling-price-pressures-clearing-way-for-more-rate-cuts/article_7f09f578-83bf-5d3f-8dc5-9201a8191164.html
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The Federal Reserve's preferred inflation measure indicates easing price pressures, with prices rising just 0.1% from July to August 2024, down from 0.2%. Year-over-year inflation fell to 2.2%, down from 2.5% in July, nearing the Fed's 2% target. Core prices also rose 0.1%, marking the fourth consecutive month below a 2% annual rate. The Fed cut its benchmark interest rate by half a point last week, with expectations for further cuts in November and December 2024. Economic growth was reported at 3% for the April-June quarter, with consumer spending and income rising slightly by 0.2%. The savings rate increased to 4.8%. Samuel Tombs from Pantheon Macroeconomics stated, 'Sticky inflation is yesterday’s problem.'
#FederalReserve #Inflation #InterestRates #Economy #ConsumerSpending #CorePrices #EconomicGrowth #SavingsRate #Polling #Trump
https://www.thewesterlysun.com/daily-news-alerts/feds-favored-inflation-gauge-shows-cooling-price-pressures-clearing-way-for-more-rate-cuts/article_7f09f578-83bf-5d3f-8dc5-9201a8191164.html