Federal Reserve officials noted cooling inflation data but stressed more months are needed. They indicated a weakened case for a near-term rate hike while remaining cautious. Market attention now shifts to producer price data for broader inflation trends. Investors have reduced expectations for an imminent interest rate increase. Policymakers remain committed to restoring price stability and await further confirmation.

US consumer inflation slowed more than expected in June, but this may not deter the Federal Reserve from raising interest rates due to ongoing geopolitical conflicts. Read more at…

New Fed Chair Kevin Warsh tells lawmakers the US central bank has ‘no tolerance for persistently elevated inflation’.