Consumer Price Index – Page 3 – One America News Network

The Federal Reserve Building stands in Washington April 3, 2012. REUTERS/Joshua Roberts/File Photo

Stocks hold firm as US inflation data keep rate cut hopes alive

Global stocks held steady and government bond yields retreated a touch on Wednesday after data showed U.S. consumer prices rose moderately in July.

AUSTIN, TEXAS - AUGUST 03: People pump gas at a Shell gas station on August 03, 2023 in Austin, Texas. Gas stations around the country have boosted prices by an average of 26 cents a gallon over the past month as irregular temperatures have made fuel-making more challenging due to the slowing of cooling processes needed to refine crude oil. (Photo by Brandon Bell/Getty Images)

U.S. Inflation Hits 2.9% In July, Opening Possibility For Fed To Start Cutting Rates

U.S. inflation rose 2.9% in July last month, versus a year ago, which fell below expectations in a result that likely paves the way for the Federal Reserve to finally begin cutting interest rates next month.

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. REUTERS/Sarah Silbiger/File Photo

Fed getting ‘closer’ to rate cuts, top officials say

Fed Governor Christopher Waller and New York Fed President John Williams both voiced that description of the shortening horizon toward looser monetary policy.