General World News

Please clap: Inflation cooled more than expected in June

The Consumer Price Index fell 3% in June on an annual basis, a sharper decrease than economists had anticipated. It’s a shot in the arm for the housing industry, which has been battered by several years of high interest rates as the Federal Reserve tries to tamp down inflation.

The evidence that inflation is meaningfully cooling increases the likelihood that the Federal Reserve’s Open Markets Committee cuts rates in September and then at least one more time in 2024. Some traders are even pricing in the possibility of a cut in late July, though at the moment details ⇒

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