Home News Small U.S. Inflation Pickup Won’t Derail a Fed Rate Cut in September

Small U.S. Inflation Pickup Won’t Derail a Fed Rate Cut in September

August 13, 2024

by Molly Smith and Craig Stirling
Yahoo! Finance

(Bloomberg) — US inflation probably picked up modestly in July, but not enough to derail the Federal Reserve from a widely anticipated interest-rate cut next month.

The consumer price index on Wednesday is expected to have risen 0.2% from June for both the headline figure and the so-called core gauge that excludes food and energy. While each would be an acceleration from June, the annual metrics should continue to rise at some of the slowest paces seen since early 2021.

The recent easing of price pressures has bolstered Fed officials’ confidence that they can start to lower borrowing costs while refocusing their attention on the labor market, which is showing greater signs of slowing.

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