Federal Reserve rate cut fails to convince wary consumers amid persistent inflation

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Federal Reserve rate cut fails to convince wary consumers amid persistent inflation - Business Mirror

Quick Summary:

WASHINGTON—With its larger-than-usual half-point cut to its key interest rate last week, the Federal Reserve underscored its belief that it’s all but conquered inflation after three long years.

The Michigan survey found that expectations for inflation a year from now fell in September for the fourth straight month to 2.7 percent.

But when her rent rose two months ago, it ticked up by a much smaller amount than it had in previous years.“It felt more normal,” said Deloney, 38.“I definitely feel like inflation has come down.It feels better.