WASHINGTON - U.S. consumer prices were unchanged in September and underlying inflation retreated, supporting expectations the Federal Reserve will cut interest rates in October for the third time this year amid risks to the economy from trade tensions.
The trade war has undermined business investment and helped to drive manufacturing into recession. Growth is also being restricted by the fading stimulus from last year’s $1.5 trillion tax cut package. Excluding the volatile food and energy components, the CPI climbed 0.1% after gaining 0.3% for three straight months.
The central bank tracks the core personal consumption expenditures price index for its 2.0% inflation target. The core PCE price index rose 1.8% on a year-on-year basis in August and has fallen short of its target this year.
I beg to differ.... There are Tons of cruddy jobs to be filled in the US.... As they are filled, Trump will bestow upon himself Ample credit for “great jobs” being created, making “really bad people work for their unjust rewards....
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