December saw the lowest level of the Fed's preferred inflation measure in three years.

Inflation slowed further in December as the Federal Reserve's preferred measure of underlying inflation reached its lowest level since 2021. The cooling inflation rate, despite strong holiday spending, has revived the debate on whether the Fed will reduce borrowing costs. This development is seen as beneficial for President Joe Biden's re-election campaign, as his economic stewardship could be a deciding factor in the race.

January 26, 2024
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