The inflation surge looks to be mostly over, putting Fed rate cuts in play
One great economic question mark of 2024 has been whether the post-pandemic inflationary episode is well and truly dead or would prove to have more lives than a horror movie monster.
The big picture: Midway through the year, it looks like the monster has indeed been vanquished. Friday morning’s new reading of the Fed’s preferred inflation measure, the Personal Consumption Expenditures Price Index, confirm as much.