The U.S. economy continues to exhibit mixed signals, with inflation rising slightly in October despite a significant slowdown in job growth.
The Bureau of Labor Statistics (BLS) reported a 0.2% increase in the Consumer Price Index (CPI) on an annual basis in October.
While this represents a modest increase, it is still above the Federal Reserve’s target rate of 2%.
In response to these economic indicators, the Federal Reserve took steps to stimulate the economy by cutting the federal funds rate by 0.25%.
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This marks the second rate cut in recent months, following a 0.5% reduction in September.
Despite the slight uptick in inflation and the job market slowdown, the U.S. economy saw moderate growth in the third quarter of 2023.
However, concerns remain about potential inflationary pressures and economic uncertainty.
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