October Inflation Rises to 2.6%, Fed Considers Rate Cuts
TL;DR Summary
US inflation rose to 2.6% in October, up from 2.4% in September, aligning with expectations but raising questions about further Federal Reserve interest rate cuts. Core inflation increased by 3.3% year-over-year. Despite a recent rate cut, the Fed remains cautious about future cuts, with Chair Jerome Powell indicating uncertainty. The Fed's next meeting in December will be crucial, as investors currently see a 62.1% chance of a rate cut. Meanwhile, job growth slowed significantly, complicating the Fed's balancing act between inflation and employment.
Topics:top-news#consumer-price-index#economic-policy#economy#federal-reserve#interest-rates#us-inflation
- US inflation rose 2.6% in October — higher than a month earlier — as Fed weighs further rate cuts New York Post
- Annual inflation rate hit 2.6% in October, meeting expectations CNBC
- Inflation accelerated in October, offering first look at prices since election ABC News
- What To Expect in the Markets This Week Investopedia
- Inflation Picks Up to 2.6%, but Door Stays Open to Fed Rate Cut The Wall Street Journal
Reading Insights
Total Reads
0
Unique Readers
0
Time Saved
4 min
vs 5 min read
Condensed
90%
824 → 83 words
Want the full story? Read the original article
Read on New York Post