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In what is a massively important metric for the country’s economic standing, US inflation figures have fallen to 2.4% in September 2024. Indeed, the latest US Consumer Price Index (CPI) report shows that inflation is falling even closer in line with the Federal Reserve’s target. The data also shows a second straight month of decline. In August, inflation came in at 2.5% and was key in informing the Fed’s most recent interest rate decision. The promising fall of inflation had led the central bank to cut rates for the first time in four years. BREAKING: US inflation falls to 2.4%, higher than expectations. — Watcher.Guru (@WatcherGuru) October 10, 2024 Also Read: Federal Reserve Could See a Million Jobs Vanish in Downward Revision US Inflation Falls Yet Again, Drops Closer to Fed’s 2% Target The United States economy, like most of the world, has been hard at work fighting off concerns of a hard landing. With inflation proving tricky to defend against, the Fe...

While the US is witnessing a drop in its inflation numbers, Europe is having a much harder time. The eurozone’s export-based economy currently stands on shaky legs. Consumers and businesses are borrowing less, and higher borrowing costs mean that there is more struggle ahead. Inflation in the US for the month of July was 3.2%, while GDP (Gross Domestic Product) grew 2.1% year-on-year in Q2 2023. On the other hand, the eurozone inflation rate for July was 5.3%, while GDP growth was 0.6%. The figures clearly show the contrast between US Fed Chair Jerome Powell’s and European Central Bank President Christine Lagarde’s fortunes. The US Fed’s rate hikes seem to be working. However, on the other side of the Atlantic, the same tactic does not seem to be paying off. Moreover, the eurozone narrowly escaped entering a recession, defined as two consecutive quarters of negative growth. The bloc recorded zero percent growth in the first quarter of this year. Source:...