Reported about 5 hours ago
The latest Consumer Price Index (CPI) report, showing an unexpected rise in inflation to 2.4% year-on-year, strengthens the argument among Federal Reserve hawks for a cautious approach to interest rate cuts. Despite the slight deceleration from August, Fed officials like governor Michelle Bowman and Atlanta Fed president Raphael Bostic advocate for gradual reductions, emphasizing patience in monetary policy adjustments. Investors increased the likelihood of a 25-basis point rate cut in November, yet concerns about inflation persistence may delay further cuts.
Source: YAHOO