Bit by bit, the US labor market is settling down from the rolling boil of the past three years: The number of job openings dipped to its lowest point in more than two years, according to data from the Bureau of Labor Statistics released on Tuesday.
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Inflation cooled for the 12th consecutive month in June, moving to 3% from 4% in May, according to the latest Consumer Price Index data from the Labor Department.
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The Federal Reserve said Wednesday it would pause its historic rate-hiking campaign as it waits for the effects to trickle further through the economy, but signaled that additional rate hikes are likely this year.
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Americans are optimistic about inflation being lower in the coming months; however, their future outlooks — for price hikes as well as their own finances — are a little more clouded.
