Key Fed inflation gauge at 2.2% in August, lower than expected
By: Jeff Cox, CNBCSeptember 27, 2024 at 8:39 AMShoppers carry bags in New York City on Sept. 13.Inflation moved closer to the Federal Reserve’s target in August, easing the way for future interest rate cuts, the Commerce Department reported Friday.The personal consumption expenditures price index, a gauge the Fed focuses on to measure the cost of…