Fed’s favorite inflation gauge drops more than expected, paving way for further cuts
The
Fed
implemented
its
first
rate
cut
since
the
pandemic
last
week,
lowering
rates
by
half
a
percentage
point
and
signaling
that
further
reductions
could
be
on
the
horizon.
Jay
Powell,
the
Federal
Reserve
Chair,
has
emphasized
the
central…
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