Fed's Inflation Gauge Drops to 2.2%

Cheddar News

Good news on the inflation front. The Federal Reserve's preferred inflation gauge showed consumers paid 2.2 percent more for goods and services for the year

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00:00More good news on the inflation front. The Federal Reserve's preferred inflation gauge, known as personal consumption

00:08expenditures, showed consumers paid 2.2 percent more for goods and services

00:13for the year ending in August. That's down from 2.5 percent in July and

00:19below analyst expectations of 2.3 percent. The Fed's target for inflation is 2 percent.

00:26This likely increases the likelihood of another interest rate cut at the Fed's next meeting

00:31just a few days after the presidential election.

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