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Christopher Decker, Professor of Economics, University of Nebraska Omaha

Inflation is cooling, but not fast enough for the Fed: Policymakers now expect only one rate cut in 2024

US Federal Reserve Inflation United States Economy Interest Rates
U.S. Federal Reserve Chair Jerome Powell speaks to reporters on June 12, 2024. Brendan Smialowski/AFP/Getty Images

It was a double-whammy Wednesday for economic-data enthusiasts.

During the morning of June 12, 2024, the Bureau of Labor Statistics published its latest inflation figures. The news was relatively good, showing that inflation rose 3.3% in the year to May 2024 – less than some analysts had expected.

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