Reported about 1 month ago
Recent data shows a significant decrease in inflation, as the Federal Reserve's preferred measure reports a modest 0.2% price increase from June to July, with the yearly inflation rate remaining steady at 2.5%. This trend marks a potential pivot for the Fed to begin cutting interest rates for the first time in over four years, amidst ongoing concerns about household finances and economic growth. Despite the cooling inflation, consumer spending remains robust, although savings rates have dropped to their lowest since the pandemic.
Source: YAHOO