Fed Expected to Cut Rates Further
Traders anticipate the Federal Reserve to deliver quarter-point interest rate cuts at each of its next three meetings.
A US government report showed the Consumer Price Index rose 3% in the 12 months through September, less than the expected 3.1%.
- The Labor Department's Bureau of Labor Statistics reported a 3% increase, up from 2.9% in August.
- Economists polled by Reuters had expected a 3.1% increase.
The central bank's more hawkish policymakers may be comforted that easing borrowing costs won't reignite inflation.
This may support the labor market without triggering inflation, according to analysts.
Author's summary: Fed to cut rates due to low inflation.
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