US economy shows resilience amid cooling growth and easing inflation

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US economy shows resilience amid cooling growth and easing inflation - Business Mirror

Quick Summary:

Brusuelas of RSM said he thinks the central bank shouldn’t wait that long, given that the economy is slowing and inflation is headed down.“We think that the Fed is missing an opportunity to get out ahead of the curve on an economy that is cooling,” he wrote in a research report.

Fed officials have made clear that with inflation slowing toward their 2 percent target level, they’re prepared to start cutting rates soon, something they’re widely expected to do in September.

This year’s slowdown reflects, in large part, the much higher borrowing rates for home and auto loans, credit cards and many business loans resulting from the aggressive series of rate hikes the Federal Reserve imposed in its drive to tame inflation.