FT News Briefing US inflation hits lowest rate in 3 years
Aug 15, 2024
Peace talks to resolve the Gaza conflict are back on the table. US inflation has dropped to its lowest in three years at 2.9%, prompting discussions about Federal Reserve interest rates. In Ukraine, military forces seek to secure newly gained ground against Russia. An arrest warrant has been issued for a Ukrainian suspect linked to the Nord Stream pipeline explosions. And in a surprising twist, scientists reveal that the iconic Stonehenge rocks were transported an astonishing 400 miles from Scotland.
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Cooling US Inflation
- US inflation cooled to 2.9% in July, the lowest since March 2021.
- This fuels hopes of a Federal Reserve interest rate cut next month.
Fed's Focus Shift
- While the 2.9% inflation figure is encouraging for a rate cut, the Fed's decision also hinges on labor market data.
- They're watching for signs of hiring slowdowns or layoffs to gauge the need for policy adjustments.
Nord Stream Suspect
- A Ukrainian man living in Poland is suspected of blowing up the Nord Stream pipelines.
- German authorities issued an arrest warrant, but the suspect is now on the run.