US inflation set to buoy labor mart-focused Fed

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US inflation set to buoy labor mart-focused Fed - Business Mirror

Quick Summary:

US inflation probably moderated at the end of the third quarter, reassuring a Federal Reserve that’s shifting more of its policy focus toward shielding the labor market.

In the wake of surprisingly strong job growth for September reported on Friday, the gradual slowdown in inflation suggests policymakers will opt for a smaller interest-rate cut when they next meet on Nov.6-7.

Fed Chair Jerome Powell has said projections issued by officials alongside their September rate decision point toward quarter-point rate cuts at the final two meetings of the year.