U.S. inflation last month likely reached its lowest point since February 2021, clearing the way for another Federal Reserve rate cut and adding to the stream of encouraging economic data that has emerged in the final weeks of the presidential campaign. The consumer price index is expected to have risen just 2.
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At the same time, most voters still give the economy relatively poor marks, mostly because of the cumulative rise in prices over the past three years. The Fed “should not rush to reduce” its benchmark rate “but rather should proceed gradually,” Lorie Logan president of the Federal Reserve’s Dallas branch, said in a speech Wednesday.
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