NEW FEAR IS NO LONGER INFLATION BUT THIS…

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally
adjusted basis, the same increase as in July, the U.S. Bureau of Labor Statistics reported today. Over the
last 12 months, the all items index increased 2.5 percent before seasonal adjustment.

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Fed Chair Jerome Powell all but proclaimed victory in the fight against inflation during his comments at the central bank’s symposium at Jackson Hole, Wyoming, on Aug. 23.

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