The Federal Reserve is expected to open the door to interest rate cuts as soon as September by acknowledging inflation has edged nearer to the U.S. central bank’s 2% target.
Read More Fed likely to hold rates steady one last time as inflation fight finale unfolds
U.S. prices increased moderately in June as the declining cost of goods tempered a rise in the cost of services.
Read More US inflation rises moderately, consumer spending cools
Wall Street slipped on Monday as wary investors steered clear of risky assets ahead of a key inflation reading and a meeting of the Federal Reserve this week.
Read More Wall St unsettled ahead of inflation data, Fed meeting
The Fed is almost certain to hold its benchmark overnight interest rate steady, with investors placing nearly a 100% probability on that outcome.
Read More Fed to hold rates steady as inflation dims hopes for policy easing
According to the latest report, inflation increased in March, with a key barometer the Federal Reserve watches closely showing that price pressures continue to increase.
Read More Report: Inflation Increased Again In March As Consumer Spending Rose
Chicago Federal Reserve Bank President Austan Goolsbee said that he penciled in three rate cuts for this year.
Read More Fed’s Goolsbee says he sees three rate cuts this year