FOX News national correspondent Brian Jenas reported on “Evening Edit” how former President Trump is berating Vice President Kamala Harris on the economy.
U.S. producer prices were unchanged in September, indicating the outlook for inflation remains positive and confirming expectations that the Federal Reserve will cut interest rates again next month.
The Labor Department's Bureau of Labor Statistics said Friday that the final demand producer price index was unchanged in August, following an earlier 0.2% increase. Economists polled by Reuters had expected the PPI to rise by 0.1%.
The PPI rose 1.8% in the 12 months to September, after rising 1.9% in August. Government data on Thursday showed consumer prices rose slightly more than expected in September due to higher food prices.
Inflation rate rose 2.4% in September, higher than expected
An employee places digital price tags on vegetables at a 365 by Whole Foods Market store in the Silver Lake neighborhood of Los Angeles, California. (Photographer: Patrick T. Fallon/Bloomberg via Getty Images/Getty Images)
Most economists do not see rising inflation as a sign that price pressures are rising again. Housing inflation slowed significantly in September. Economists expect the U.S. central bank to slowly increase inflation in September toward its 2% target.
US economy added 254,000 jobs in September, much more than expected
Traders had expected a 25 basis point (bp) rate cut at the Fed's policy meeting on November 6-7.
The central bank abandoned its expectation that interest rates would be cut by half a percentage point after a strong September jobs report and other data that showed a brighter economic picture than previously thought.
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Last month, the Fed lowered its policy interest rate by 50 basis points to a range of 4.75% to 5.00%. In 2022 and 2023, interest rates were raised by 525 basis points.
