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07-14-24 RSO News Mid Day
US Inflation is Finally Cooling Down, What’s Next?
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It’s your mid-day news…and we have some more info to share with you to ensure you know all that’s going on!
Breaking News
US Inflation Cools Down Further, Paving Way For Potential Interest Rate Cut
A welcome respite from soaring prices! US inflation continued its downward trend for the third consecutive month, signaling a possible end to the highest price surge witnessed over the past forty years. This development might prompt the Federal Reserve to consider slashing interest rates sooner rather than later.
According to the Labor Department's latest release, consumer prices dipped 0.1 percent between May and June – an unprecedented drop since May 2020, when economic activity came to a grinding halt due to COVID-19 restrictions. On a yearly basis, prices increased by a modest 3%, lower than the preceding month's 3.3%.
This encouraging news should reassure the Fed policymakers that inflation is gradually inching closer to the coveted 2% mark. June's numbers constitute yet another chapter in the narrative of 'good' inflation sought after by monetary authorities. If benign price trends persist throughout the summer, experts predict the Fed will initiate rate-cutting moves starting in September.
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