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___US inflation has steadily cooled. Getting it down to the Fed’s target rate will be the toughest mileWASHINGTON (AP) — Over the past year, inflation in the United States has tumbled from 9% all the way to 3%, softening most of the price pressures that have gripped the nation for more than two years. Now comes the hard part. Squeezing out the last bit of excess inflation and reducing it to the Federal Reserve’s 2% target rate is expected to be a much harder and slower grind. The stickiness of inflation could endanger the possibility that the Fed will achieve a rare “soft landing” — a scenario in which it manages to slow inflation down to its target level through higher interest rates without derailing the economy.
___Stock market today: Wall Street dips as markets fall worldwide on worries about banks, economy …
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