Inflation Slows Again, Offering Hope of Relief for Households and Possible Fed Pivot
• Inflation data out Thursday expected to show prices rising more slowly; core inflation rate could dip below 4% for first time since May 2021
• Moderating inflation would support Fed plans to cut interest rates in 2023 to avoid recession, after aggressive hikes to control prices
• Prices still high for consumers, but slowing inflation means less pressure on household budgets
• Inflation likely to remain political issue in 2024 campaign, with Trump and other Republicans blaming Biden despite cooling price rises
• White House hopes voter views on economy will improve as inflation declines, though sentiment poor so far despite strong job market