Inflation has eased for the second consecutive month, reducing the urgency for the Federal Reserve to increase interest rates imminently. Nevertheless, persistent inflation indicators suggest current policies may still not be stringent enough. While traders lean towards maintaining rates at September's meeting, a potential hike is still on the table.

US inflation eased for a second month in July, with consumer prices rising 3.4% from a year earlier, down from 3.5% in June, exactly as economists had forecast, a reading that…

Federal Reserve policymakers are likely to feel little fresh urgency to raise interest rates in September after data on Wednesday showed inflation...