The decline in inflation in the United States in June is encouraging for the Federal Reserve
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The inflation rate in the United States dropped to 3% in June, which is an encouraging sign for the Federal Reserve. The Fed is discussing the pace of rate cuts and looking for evidence of easing price pressures. Despite market expectations of up to 7 rate cuts by the Fed in 2024, the benchmark interest rate is currently maintained in the range of 5.25-5.5%. Chairman Powell stated that the labor market is cooling down, and maintaining high rates for a long time will squeeze the economy. Decisions will be made at subsequent meetings
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