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Cooler-than-expected inflation reading keeps Fed on course for a rate cut next week
A fresh reading Friday showing that inflation cooled slightly in September is likely to keep the Federal Reserve on course for another quarter-percentage-point interest rate cut next week amid continued concerns about the job market. The Consumer Price Index (CPI) clocked in at 3% for the month of September, a tenth of a percent lower than expected but inching up from the 2.9% rate in August. On a "core" basis, which excludes volatile food and energy prices and is the preferred Fed measure, inflation also rose by 3% in September, cooling from 3.1% in the prior month. Month over month, core inflation rose 0.2% after ... (full story)
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