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Inflation is cooling, but not fast enough for the Fed: Policymakers now expect only one rate cut in 2024

  • Written by Christopher Decker, Professor of Economics, University of Nebraska Omaha
Inflation is cooling, but not fast enough for the Fed: Policymakers now expect only one rate cut in 2024U.S. Federal Reserve Chair Jerome Powell speaks to reporters on June 12, 2024.Brendan Smialowski/AFP/Getty Images

It was a double-whammy Wednesday for economic-data enthusiasts.

During the morning of June 12, 2024, the Bureau of Labor Statistics published its latest inflation figures. The news was relatively good, showing that inflation rose 3.3% in...

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