Jerome powell here in york, pennsylvania last year, some relief. Shes Been paying a higher rate on the Credit Card she uses to fund her Business. My Interest Rates have gone up, so my monthly payments have increased tremendously, so i would like to see the Interest Rates come Back down. Whenjerome powell visited this market, the Federal Reserve was watching closely to see if its Big Interest Rate hikes really were cooling inflation, even though it was tough and small Businesses. Thats aBout to change. Mr powell and his colleagues are set to Interest Rates. In york, the arrival of autumn marks a change. After raising Interest Rates 11 times, americas Central Bank is all But certain to unwind that, But how quickly they go down from here is still up for graBs. Perfectly like this on your porch, and then we price it less than picking up the pumpkins themselves. At this farm shop, the reBirth of the economy, as inflation falls closer to the feds official target of 2 , is yet another moment
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
shareholders are in favour. welcome to business today. i m sally bundock. we start in the us where the cost of borrowing will be staying higher for a while longer. the us federal reserve left its key interest rate unchanged on wednesday at its highest in more than two decades and signalled it only expects to make one cut this year. the fed though is predicting four more cuts in 2025. the decision came just hours after some encouraging news on its battle to control inflation. america s official consumer price index showed prices rising at an annual rate of 3.3% in may. that was down 0.1% on april s rate and was lower than expected. but it s still way above the fed s inflation target of 2%. erin delmore in new york has all the details. economic datasets can feel abundant, these are two big deal events. we ve only seen them happen on the same day seven times in the last decade. to start, the consumer price index. that s the key inflation gauge that held good news wednesday morni
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