Inflation edged up in September, nearing the Federal Reserve’s 2% target, according to a Commerce Department report Thursday. The personal consumption expenditures index increased 0.2% monthly and hit a 12-month rate of 2.1%, aligning with forecasts. Markets anticipate that the Fed will lower its short-term borrowing rate at its upcoming meeting. Last month, the Fed reduced the rate by half a percentage point, a rare step during economic growth.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Inflation edged up in September, nearing the Federal Reserve's 2%
00:06target, according to a Commerce Department report Thursday.
00:09The Personal Consumption Expenditures Index increased 0.2% monthly and hit a 12-month rate
00:14of 2.1%, aligning with forecasts. Markets anticipate the Fed will lower its short-term
00:20borrowing rate at its upcoming meeting. Last month, the Fed reduced the rate by
00:24a half percentage point, a rare step during economic growth.
00:27For all things money, visit Benzinga.com slash GSTV.