The US inflation measure most closely watched by the Federal Reserve declined sharply in May, official figures showed Friday, returning to a downward trend after a jump a month earlier. The Fed recently announced it was pausing its aggressive campaign of 10 consecutive interest rate hikes to tackle inflation in order to give policymakers more time to assess the strength of the US economy.Friday, 30 June 2023
The US inflation measure most closely watched by the Federal Reserve declined sharply in May, official figures showed Friday, returning to a downward trend after a jump a month earlier. The Fed recently announced it was pausing its aggressive campaign of 10 consecutive interest rate hikes to tackle inflation in order to give policymakers more time to assess the strength of the US economy.
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