Well get into more detail on that in a moment but first, lets Take A Deeper Look now on whats happening with the us economy. According to data out in the last hour prices rose at an annual rate of 2. 5 in august. That was slightly less than the 2. 6 markets were expecting and down from 2. 9 injuly. If we look at Core Inflation though which strips out volatile elements such as Food And Fuel prices were rising at a faster rate 3. 2 . Dr sean snaith, director of the institute for economic forecasting at the university of central florida. Hejoins us now. Welcome. First of all, what a surprise of the cpi taking out volatile Food Energy prices. Does this take 50 Basis Point cut to Interest Rates off the table, when the fed meets later this month . Instead, itll more like 25 Basis Points cut . Was the fed behind the curve . Well, i think 50 points is off the table, personally, and i may be in the minority in which 25 is off the table. I think its a bit too soon to raise the mission accomplish
Later this month. Lets show you the details. Figures from the us Labor Department Show prices rose at an annual rate of 2. 5 percent in august. Down from 2. 9 injuly. If we look at Core Inflation though which strips out volatile elements such as Food And Fuel prices were rising at a more aggressive 3. 2 percent. Our North America Business correspondent Ritika Gupta is in new york. A cut by the fed has been all but promised by them already at their meeting next week. I guess the only outstanding question is by how much. Indeed, as you mentioned in your introduction overall this was a solid report on information monitoring. Annually at 2. 5 , that is the lowest in three years and that is why you will see the White House touting this as it went for the current administration and for the Election Campaign for Vice President kamala harris, and makes it must certain the federal reserve will cut Interest Rates when it meets next week, but for the markets it is a different story and you see th
Administration including my press prep, predecessor, failed to buy american Ship Jobs overseas where labor is cheaper brought home the product. There was more expensive, but not anymore. Federal projects build american roads, bridges highways, and itd be made with american products by american workers last longer sharing its simple thats why were paying so many good paying jobs in fact, requiring those kinds of projects to pay Davis Baker prevailing wages. So their job that could raise a family on those jobs dont require a College Degree in fact, We Expanded registered apprenticeships. Remember all the hell i got for doing that. We got for doing that well, Guess What, resulted in hiring over 1 Million apprentices sensory came to Office Lots of folks getting an apprenticeship is like getting on a College Degree why you have to train for four or five years to get that. And some of the best workers in the world arrive that we write where we are, we are you know wondering if pittsburgh you
Minutes from now Vice President harris is set to take the Podium And Battleground michigan and has both campaigns enter the final sprint to election day. It will be the very first time that we hear from her since she and President Biden met with Hostage Negotiators in the Situation Room earlier today. And already we are seeing antiisrael Protests Breakout in Lower Manhattan with a crowd of about 300 people appeared hello, everyone im Bryan Llenas in New York could happy Labor Day. Great to be with you. I Molly Line. This is a special or Labor Day addition of Fox News life. A short time ago, the White House releasing this photo from the Situation Room following the murder of six hostages taken during hamas brutal september attack. Pressure grows on the administration to secure a Ceasefire Deal as President Biden signals one is in the works. Are you planning to present a final Hostage Deal this week . We are very close to that. What makes you think that this deal will be accepted in a wa