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Is the Federal Reserve poised for more rate cuts as inflation cools
Description
The Federal Reserve reports a reduction in inflation, as the personal consumption expenditures price index shows a 0.1% increase from July to August, leading to a year-over-year inflation rate of 2.2%. This inflation rate is slightly above the Fed's target of 2%. The Fed cut its benchmark interest rate by half a point and anticipates further cuts in November and December, with projections for additional reductions into 2025 and 2026. Recent economic data indicate a steady growth rate of 3% for the U.S. economy from April to June, driven by consumer spending and business investment. Initial unemployment claims have decreased, and retail spending has increased. Industrial production and single-family home construction have improved. Consumer sentiment indicates a positive outlook regarding durable goods prices. Learn more on this news visit us at: https://greyjournal.net/
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