Key Fed inflation gauge at 2.2% in August, lower than expected
WEB3 days ago · Data as of Sept. 27, 2024. Excluding food and energy, core PCE rose 0.1% in August and was up 2.7% from a year ago, the 12-month number 0.1 percentage point higher than July. Fed officials tend to ...
A dual win for consumers: Inflation cooled last month, paving way …
WEB3 days ago · Americans and Federal Reserve officials have news to celebrate: Inflation cooled significantly last month, likely giving central bankers more confidence to continue cutting interest rates.
The Fed’s Preferred Inflation Gauge Cooled in August
WEB3 days ago · Cheriss May for The New York Times. By Jeanna Smialek. Sept. 27, 2024, 8:43 a.m. ET. Inflation cooled in August, the latest sign of progress in the Federal Reserve’s yearslong fight to bring ...
Fed's favored inflation gauge shows cooling price pressures, …
WEB1 day ago · Compared with a year earlier, inflation fell to 2.2%, down from 2.5% in July and barely above the Fed’s 2% inflation target. The cooling of inflation might be eroding former President Donald ...
Fed's favored inflation gauge shows cooling price pressures, …
WEB3 days ago · WASHINGTON (AP) — 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% from July to August, the Commerce Department said, down from the previous month’s 0.2% increase.. Compared with a year earlier, inflation fell to 2 ...
Fed's key inflation measure cooled slightly from a year ago ... - NBC News
WEBJul 26, 2024 · By Jeff Cox, CNBC. An important gauge for the Federal Reserve showed inflation eased slightly from a year ago in June, helping to open the way for a widely anticipated September interest rate cut ...
Fed official says US interest rates should not be cut too fast | AP News
WEB3 days ago · Barkin said he sees the Fed cutting borrowing costs in two phases, beginning with a “recalibration” because rates are higher than needed given the drop in inflation in the past two years. Inflation has fallen sharply from a peak of 7% in 2022, according to the Fed’s preferred gauge, to about 2.2% in August.
US inflation reaches 3-year low as Fed prepares to cut interest …
WEBSep 11, 2024 · The post-pandemic spike in U.S. inflation eased further last month as year-over-year price increases reached a three-year low, clearing the way for the Federal Reserve to cut interest rates and likely shaping the economic debate in the final weeks of the presidential race.
Federal Reserve issues FOMC statement
WEBMar 20, 2024 · Inflation has eased over the past year but remains elevated. The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. The Committee judges that the risks to achieving its employment and inflation goals are moving into better balance.
Fed’s Powell is unfazed by the latest hot inflation reading
WEBMay 14, 2024 · Most Fed officials share Powell’s concerns that inflation could prove to be more persistent than anticipated, making it more challenging to achieve the central bank’s 2% target.