Week InReview: August 11, 2023

Prices creep.

Federal Reserve policymakers are increasingly likely to leave interest rates unchanged at their next meeting after fresh evidence of easing inflation emerged. But they'll be careful to strike a tone that their job isn't done yet. The core consumer price index, which excludes food and energy costs, rose 0.2% for a second month in July, marking the smallest back-to-back gains in more than two years. It's unclear where Fed officials will go from here. One faction of the policy-setting committee argues that the past year-and-a-half of interest-rate hikes has done its job, while another group contends that pausing too soon could risk inflation reaccelerating.


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