{"id":83006,"date":"2024-08-14T21:25:50","date_gmt":"2024-08-14T21:25:50","guid":{"rendered":"https:\/\/cred.ai\/news\/?p=83006"},"modified":"2024-08-14T21:25:50","modified_gmt":"2024-08-14T21:25:50","slug":"fed-eyes-september-rate-cut-as-inflation-cools","status":"publish","type":"post","link":"https:\/\/cred.ai\/news\/2024\/08\/14\/fed-eyes-september-rate-cut-as-inflation-cools\/","title":{"rendered":"Fed Eyes September Rate Cut as Inflation Cools"},"content":{"rendered":"

U.S. inflation is cooling off, and for the first time in years it looks like the Federal Reserve might finally take its foot off the gas. According to the latest data<\/span><\/a> from the Department of Labor, July\u2019s inflation rate dipped to 2.9 percent\u2014the slowest it\u2019s been since March 2021. This is a major sign that those wild pandemic-era price spikes might actually be behind us. The Fed has been watching inflation like a hawk, and with these new numbers, a rate cut in September seems all the more likely.<\/p>\n

So, what\u2019s driving this inflation cooldown? A few factors: rent increases have started to slow, grocery costs are holding relatively steady with just a 0.1 percent bump from June to July, and gas prices are down more than two percent from 2023. Even the used car market, which went bananas during the pandemic, has seen prices drop by nearly 11 percent in the past year, according to the Associated Press<\/span><\/a>.<\/p>\n

But let\u2019s not get ahead of ourselves. Remember that while the rate of price increases appears to be slowing, prices themselves are still about 20 percent higher than they were three years ago. So, even if your paycheck has grown, it probably still feels like you\u2019re shelling out way more cash for just about everything.<\/p>\n

The Fed is cautiously optimistic but not exactly ready to pop the champagne.<\/p>\n

\n

\u201cWe need more good data so that we can be confident that what we’re seeing is really that inflation is going back down toward 2%\u201d the Fed Chair Jerome Powell said at a news conference last month.<\/p>\n<\/blockquote>\n

If this trend continues, we might see the Fed start to ease up on interest rates in September, which could mean cheaper loans and mortgages\u2014a welcome change for anyone trying to buy a house or finance anything big. But for now, it\u2019s a waiting game.<\/p>\n

In short, though inflation is cooling off, don\u2019t expect everything to suddenly become affordable again. But hey, at least we\u2019re moving in the right direction!<\/p>\n","protected":false},"excerpt":{"rendered":"

U.S. inflation is cooling off, and for the first time in years it looks like the Federal Reserve might finally take its foot off the gas. According to the latest data from the Department of Labor, July\u2019s inflation rate dipped to 2.9 percent\u2014the slowest it\u2019s been since March 2021. This is a major sign that …<\/p>\n","protected":false},"author":14,"featured_media":83007,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[396],"tags":[114,700,808,1112,1139,1140],"class_list":["post-83006","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-news","tag-inflation","tag-federal-reserve","tag-economy","tag-jerome-powell","tag-cooling"],"acf":[],"yoast_head":"\nFed Eyes September Rate Cut as Inflation Cools - crednews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cred.ai\/news\/2024\/08\/14\/fed-eyes-september-rate-cut-as-inflation-cools\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fed Eyes September Rate Cut as Inflation Cools\" \/>\n<meta property=\"og:description\" content=\"U.S. inflation is cooling off, and for the first time in years it looks like the Federal Reserve might finally take its foot off the gas. 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