Inflation Cools in August, Fed Eyes Rate Cut

Cheddar News

Inflation cooled in August to new three-year lows, teeing up the Federal Reserve to begin gradually reducing interest rates at their meeting next week.

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00:00Inflation cooled in August to a new three-year low, teeing up the Federal Reserve to begin

00:05gradually reducing interest rates at their next meeting next week.

00:10According to the Labor Department, the consumer price index climbed 2.5 percent from a year

00:16earlier.

00:17That's down from 2.9 percent in July.

00:20Core inflation, a measure that excludes volatile food and energy costs, held steady at 3.2

00:26percent.

00:27Economies and investors will closely scrutinize the Fed's meeting next week, both for the

00:31size of the rate cut and for Chair Jerome Powell's view about the economy's health.

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