“Inflation milestone: Consumer Price Index slows below 3% for first time since March 2021”

“Price hikes slowed more than expected in July, and, for the first time in more than three years, the Consumer Price Index has landed below 3%.

That paves the way for the Federal Reserve to cut rates next month after a yearslong battle with inflation that sent rates spiking to a 23-year high. America’s economy is showing signs of stress, and now that inflation appears under control, the Fed can reduce borrowing costs to try to get job growth booming again.

Consumer prices rose 2.9% for the 12 months ended in July, slowing from June’s 3% annual gain, according to the Bureau of Labor Statistics’ latest CPI report released Wednesday…”

https://www.cnn.com/2024/08/14/economy/us-cpi-consumer-price-index-inflation-july/index.html

See the bold? NO! Rate cuts are politically motivated. It’s because it’s an election year. It has nothing to do with the economy. The correct thing to do would be to raise rates. Historically that never happens. Governments throughout history inflate their problems away when they become unable to pay their debts. That’s the situation the U.S. is in currently. the only answer is inflation.