Fed’s favored inflation gauge shows cooling price pressures, clearing way for more rate cuts ...Middle East

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Fed’s favored inflation gauge shows cooling price pressures, clearing way for more rate cuts
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WASHINGTON (AP) — The Federal Reserve’s preferred inflation measure on Friday provided the latest sign that price pressures are easing, a trend that is expected to fuel further Fed interest rate cuts this year and next. Prices rose just 0.1% from July to August, the Commerce Department said, down from the previous month’s 0.2% increase. Compared with a year earlier, inflation fell to 2.2%, down from 2.5% the previous month and barely above the Fed’s 2% inflation target. The cooling of inflation might be helping to erode former President Donald Trump’s polling advantage on the economy. In a survey last week by The Associated Press-NORC Center for Public Affairs Research, respondents were ne

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