Federal Reserve Interest Rates and Economic Slump

Breitbart News economics editor John Carney believes that a few months of economic weakness are not enough for the Federal Reserve to cut interest rates, despite signs of a slump in the economy.

Inflation

The personal consumption expenditure price index for services excluding housing and energy rose at the fastest pace since March 2022, indicating high inflation in the services sector. This is a historically rare occurrence and is seen as more persistent than goods inflation. Fed officials are closely monitoring this indicator for future inflation trends.