Inflation eased in June, helping Fed's Warsh delay potential rate hikes - POLITICO
Federal Reserve Chairman Kevin Warsh attends his swearing-in in the East Room of the White House, Friday, May 22, 2026, in Washington. | Alex Brandon/AP 07/14/2026 09:46 AM EDT Federal Reserve Chair Kevin Warsh got a reprieve Tuesday when the government reported a steep drop in inflation last month driven by lower gas prices, which will take some of the pressure off the central bank to quickly raise interest rates. The consumer price index fell 0.4 percent in June, its largest decrease since the depths of the pandemic in April 2020, as falling energy costs offset price increases in other areas like housing and food. Inflation in services industries beyond energy was also flat, an encouraging trend. But it’s difficult to predict whether this improved picture will hold, particularly since the U.S. has restarted hostilities with Iran, prompting oil prices to once again surge. “This is welcome news for the Fed, but it is hardly mission accomplished,” Inflation Insights President Omair Shar
Federal Reserve Chairman Kevin Warsh attends his swearing-in in the East Room of the White House, Friday, May 22, 2026, in Washington. | Alex Brandon/AP 07/14/2026 09:46 AM EDT Federal Reserve Chair Kevin Warsh got a reprieve Tuesday when the government reported a steep drop in inflation last month driven by lower gas prices, which will take some of the pressure off the central bank to quickly raise interest rates. The consumer price index fell 0.4 percent in June, its largest decrease since the depths of the pandemic in April 2020, as falling energy costs offset price increases in other areas
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