Inflation cooled in August to new three-year lows, teeing up the Federal Reserve to begin gradually reducing interest rates at their meeting next week.
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00:00Inflation cooled in August to a new three-year low, teeing up the Federal Reserve to begin
00:05gradually reducing interest rates at their next meeting next week.
00:10According to the Labor Department, the consumer price index climbed 2.5 percent from a year
00:16earlier.
00:17That's down from 2.9 percent in July.
00:20Core inflation, a measure that excludes volatile food and energy costs, held steady at 3.2
00:26percent.
00:27Economies and investors will closely scrutinize the Fed's meeting next week, both for the
00:31size of the rate cut and for Chair Jerome Powell's view about the economy's health.