Year-over-year inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September.
Year-over-year inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September.
The AP clearly has no idea how to read charts or infer data. The rate cuts aren’t coming. CPI is still over or target rate of 2% YoY… and we are down a massive (checks notes) .1% from 3% after they mutilated the calculations to get the 3%
It’s not moving. Sticky inflation. Stagnant. Stag-flation if you prefer.
Edit: I seem to have offended some AP writers.
Corporate propaganda demands lower interest rates, peasant.
Apparently beatings will continue until the propaganda is consumed 😂