Another mild inflation reading released Wednesday removes one of the last hurdles the Federal Reserve needed to clear before cutting rates in September.
A milder inflation reading released Wednesday removes one of the last hurdles the Federal Reserve needed to clear before cutting rates in September., down from June's 3.0% annual gain in prices. On a "core" basis, which strips out the more volatile costs of food and gas, prices in July climbed 3.2% over last year — down from 3.3% in June. That was the smallest increase since April 2021.
One Fed official, Atlanta Fed president Raphael Bostic, said Tuesday before the latest CPI report that he wants to see "a little more data" before cutting rates. The Minister of Fisheries, Tourism, Sport and Culture for Prince Edward Island, the Honourable Cory Deagle, and the Minister of Fisheries, Oceans and the Canadian Coast Guard, the Honourable Diane Lebouthillier, will co-chair a meeting of the Canadian Council of Fisheries and Aquaculture Ministers . Topics to be discussed include: the sustainable economic growth of Canada's fish and seafood sector, climate change, aquaculture, and aquatic invasive species.
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