Reported about 19 hours ago
The Federal Reserve's preferred inflation measure remained stable in July, with a year-over-year increase of 2.6%, although core inflation saw a rise to 2.9%. Despite ongoing tariffs, consumer spending shifted upward by 0.5%, indicating resilience among American consumers. As inflation remains above the Fed's target and economic growth has weakened, officials consider potential interest rate cuts cautiously.
Source: YAHOO