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US Consumer Prices Flat in May, Defying Expectations for Slight Rise
U.S. consumer prices were unexpectedly unchanged in May amid cheaper gasoline, but inflation likely remains too high for the Federal Reserve to start cutting interest rates before September against the backdrop of a persistently strong labor market.
The unchanged reading in the consumer price index reported by the Labor Department's Bureau of Labor Statistics on Wednesday followed a 0.3% increase in April.
The CPI has been trending lower since posting solid readings in February and March. Price pressures could continue moderating as...
NRF Economist Says Labor Market and Interest Rates Will Play Major Roles in 2024
After a better-than-expected performance in 2023, what happens with the economy in 2024 could depend largely on the labor market and what the Federal Reserve does with interest rates, National Retail Federation Chief Economist Jack Kleinhenz said today.
“Federal Reserve officials have tough policy choices ahead as they decide on what to do and when,” Kleinhenz said. “There is still a risk that keeping rates too high could curb the economy’s momentum more than necessary. Yet if they lower rates too soon...
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