WASHINGTON (AP) — Optimism is rising among economists, investors and Federal Reserve officials that U.S. inflation is nearly under control, with the latest...
Consumer prices in the United States are believed to have edged up just 0.1% from May to June in data the government will release Thursday morning, according to a survey of economists by the data provider FactSet.
Fed officials and economists pay particular attention to core prices, which are believed to provide a better gauge of where inflation is likely headed. Increases in core prices of roughly 0.2% a month or less are generally consistent with the Fed's inflation target. Grocery prices are thought to have ticked up 0.2% last month and just 1% from a year earlier. Still, they have jumped more than 20% in the past three years, pressuring many Americans' budgets., Powell noted that the job market has “cooled considerably” and is “not a source of broad inflationary pressures.
While Jill Biden continued to support her husband's reelection bid, Melania Trump hosted a GOP fundraiser at Trump Tower Monday night.A former army chief has warned members of NATO the world is facing "as dangerous a moment as any time that we've had since 1945" as he called on members to invest more into their arms.
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