Fed's Inflation Measure Stable, Boosting Rate Cut Hopes

Federal Reserves preferred inflation measure remained steady in September, potentially setting the stage for an upcoming interest rate cut. Core prices rose by 0.2%, aligning with the previous months increase. Despite inflation slightly surpassing the Feds 2% target, factors like weak hiring and modest economic growth may gradually decrease price increases. Consumer spending grew by 0.3% in September, a slight decrease from August, but Black Friday weekend spending surged, potentially boosting fourth quarter growth. Personal incomes also increased by 0.4% in September.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.