U.S. consumer prices rose marginally in August, but underlying inflation showed some stickiness, which could discourage the Federal Reserve from delivering a...
WASHINGTON - U.S. consumer prices rose marginally in August, but underlying inflation showed some stickiness, which could discourage the Federal Reserve from delivering a half-point interest rate cut next week.
Government data last week showed nonfarm payrolls increasing below expectations in August but the unemployment rate falling to 4.2% from near a three-year high of 4.3% in July, reducing the odds of a 50 basis point rate cut and boosting the chances of a quarter-point reduction. The central bank has maintained its benchmark overnight interest rate in the current 5.25%-5.50% range for a year, having raised it by 525 basis points in 2022 and 2023.
Some economists cautioned that lingering stickiness in core inflation argued against a half-point rate cut next Wednesday.The X owner got slammed on his own platform for "peak weirdo" behavior after the pop star endorsed Kamala Harris.UK-based Vedanta Resources, parent of India's Vedanta, has raised $900 million in its first dollar bond issue in more than two years at a coupon of 10.875%, the miner said on Wednesday.
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