Latest / Salt Lake City News Today | 2 Min News | The Daily News Now!
Inflation Slows, Fed Pauses Rate Hike | Salt Lake City News
Inflation’s cooling trend offers a breath of relief, with July numbers dipping to 3.4%—a slight drop from June’s 3.5%. Core inflation also eased, while energy prices remain stubbornly high, especially gas (up 25%) and fuel oil (over 39%), driven by global tensions. Groceries, medical care, apparel, and housing all rose modestly, though the Mountain West bucks the national average at 2.7%. Combined with a weaker jobs report that slashed expected hiring, economists now suspect the Fed may pause its rate hike plans in September—offering a moment of economic calm for now. Listen in comfort:Get a…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.