Reported about 5 hours ago
Inflation increased in August, with the Consumer Price Index up 2.9% annually, complicating the Federal Reserve's path for interest rate cuts. The rise was influenced by steady gasoline and food prices, while jobless claims also surged, hitting a nearly four-year high. Despite the uptick in inflation, the market largely anticipates a quarter-point rate cut at the Fed's upcoming meeting, reflecting concerns over economic conditions rather than optimistic inflation trends.
Source: YAHOO