The Fed Strikes Again

The Fed Strikes Again

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  • Inflation fell to its lowest annual rate in more than two years during June, the product both of some deceleration in costs and easy comparisons against a time when price increases were running at a more than 40-year high.
  • The consumer price index, which measures inflation, increased 3% from a year ago, which is the lowest level since March 2021. On a monthly basis, the index, which measures a broad swath of prices for goods and services, rose 0.2%.

Why it matters

Beginning in March 2022, the Fed has implemented ten interest rate increases, resulting in rates ranging between 5% and 5.25%. In June, the Fed opted to pause its rate hike, marking the first break since the rate increases commenced.


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