US Inflation Falls to 2.5% in August 2024
In what is an immensely important development for the US economy, the latest Consumer Price Index report shows that inflation fell to 2.5% in August 2024. The development is massively important to the Federal Reserve, as they look to issue their first interest rate cuts in more than four weeks. The expectation is that those cuts will come as early as next week. Although the inflation data is still above the Fed’s 2% target, circumstances have pushed cuts ahead of schedule. Currently, the CME Group FedWatch tool predicts a 71% chance of a 25 basis point cut during the next FOMC meeting on September 17th. BREAKING: US inflation falls to 2.5%, lower than expectations. — Watcher.Guru (@WatcherGuru) September 11, 2024 Also Read: US Economy Is Slowing Down, Showing Signs Of A Possible Decay US Inflation Falls Below Expectations for August 2024 The United States economy has long been languishing in a state of fragility. Following the continued pandemic recovery, the Federal Reserv...