Federal Reserve Chair Kevin Warsh said Tuesday that the Fed will make high inflation “a thing of the past,” yet he provided no signal about the central bank’s next steps.

As featured on

Inflation cools more than expected in June as gas costs fall, underlying prices ease

Inflation cools more than expected in June as gas costs fall, underlying prices ease

U.S. inflation cooled last month as the cost of gas, clothes, and used cars fell, providing some relief to consumers, while underlying price pressures also slowed more than expected. Excluding the food and energy categories, core prices were unchanged from May to June, a positive sign that higher gas prices haven't spread through the economy. Yet oil prices rose for a second day Tuesday as the United States renewed attacks on Iran and President Donald Trump announced a new blockade in the Strait of Hormuz. The increase threatens to undo at least some of the progress that occurred last month.

(0) comments

Welcome to the discussion.

Keep the discussion civilized. Absolutely NO personal attacks or insults directed toward writers, nor others who make comments.
Keep it clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't threaten. Threats of harming another person will not be tolerated.
Be truthful. Don't knowingly lie about anyone or anything.
Be proactive. Use the 'Report' link on each comment to let us know of abusive posts.
PLEASE TURN OFF YOUR CAPS LOCK.
Anyone violating these rules will be issued a warning. After the warning, comment privileges can be revoked.

Post a comment
Stop watching this discussion.

Thank you for visiting the Daily Journal.

Please purchase a Premium Subscription to continue reading. To continue, please log in, or sign up for a new account.

We offer one free story view per month. If you register for an account, you will get two additional story views. After those three total views, we ask that you support us with a subscription.

A subscription to our digital content is so much more than just access to our valuable content. It means you’re helping to support a local community institution that has, from its very start, supported the betterment of our society. Thank you very much!

Sign Up
Log In
Purchase a Subscription