"Federal Reserve Achieves Unprecedented Inflation Control, Avoiding Recession"

Inflation in the US slowed to a 3.1% annual rate in November, in line with expectations, as prices for goods and services increased 0.1% for the month. The core Consumer Price Index (CPI), which excludes volatile food and energy prices, rose 0.3% on the month and 4% from a year ago. The November numbers are still above the Federal Reserve's 2% target, but show progress. The Fed is expected to hold interest rates steady during its two-day policy meeting, signaling that the policy tightening is over and future cuts are likely.