As inflation cools, Fed has to bring down the rates for borrowing
Last month, for the first time since March 2021, the consumer price index — the indicator of inflation — fell below 3% annual increase, hitting 2.9% for July. Among other things, this makes it likelier that interest rates will be cut when the Federal Reserve’s governing board meets in September. We hope that the policymakers, in their joint wisdom, take this step to further stimulate the...