Inflation Rate Drops in May

I don't think the manager at waffle house will understand the information, but give it a shot.

 

All my money going to Soros and we have a right wing supreme ct a republican house run by a maga zealot and Donald Trump contending for president again. We need to hold Soros accountable.

 

100% concurrence.

 

Fed Chair Jerome Powell: US inflation is slowing again, though it isn't yet time to cut rates

WASHINGTON (AP) — Inflation in the United States is slowing again after higher readings earlier this year, Federal Reserve Chair Jerome Powell said Tuesday, while adding that more such evidence would be needed before the Fed would cut interest rates.

After some persistently high inflation reports at the start of 2024, Powell said, the data for April and May “do suggest we are getting back on a disinflationary path.”

Speaking in a panel discussion at a monetary policy conference in Sintra, Portugal, Powell said Fed officials still want to see annual price growth slow further toward their 2% target before they would feel confident of having fully defeated high inflation.

“We just want to understand that the levels that we’re seeing are a true reading of underlying inflation,” he added.

 

1/3 of the CPI is housing and that is where any residual inflation is concentrated. No amount of interest rate increases will correct that. He wont be happy until he causes a recession while a Democrat is in office.