U.S. central bank – Page 4 – One America News Network

Monthly US consumer prices post first drop in four years as inflation subsides

U.S. consumer prices fell for the first time in four years in June amid cheaper gasoline and moderating rents.

The Labor Department’s employment report also showed the economy created 111,000 fewer jobs in April and June than previously estimated.

Ebbing labor market momentum, together with abating inflation pressures, keep the Federal Reserve on track to start cutting interest rates this year.

The benchmark S&P 500 touched a record high on Thursday, boosted by strong gains in Nvidia.

It is a worrying sign for the Fed, suggesting that the elevated pace of price increases could last longer than expected.

The Fed is almost certain to hold its benchmark overnight interest rate steady, with investors placing nearly a 100% probability on that outcome.