Summary via TLDRThis:
WASHINGTON (AP) — A measure of consumer prices that is closely monitored by the Federal Reserve fell last month to its lowest level since March 2021, the latest sign that inflation in the United States is steadily cooling from its once-painful highs.
The inflation report that the Commerce Department issued Friday also showed that Americans’ willingness to keep spending, despite two years of high inflation and 11 Fed rate hikes over 17 months, remains a powerful driver of the economy.
Consumer spending rose 0.5% from May to June, up from 0.2% the previous month.
This can occur as persistent consumer demand enables more companies to raise prices, thereby keeping inflation above the Fed’s target and potentially causing the central bank to raise rates even higher.
Powell declined to offer any signal of the central bank’s likely next moves.
The Fed’s policymakers consider core prices a better measure of where inflation might be headed.
Because the paragraphs of the summary are indented, they appear as monospaced text with a horizontal scrollbar in the Lemmy web interface. This makes the summary unreadable to web users.
Suggestion: Do not indent paragraphs in Markdown input.
Summary is reprinted below without indentation:
WASHINGTON (AP) — A measure of consumer prices that is closely monitored by the Federal Reserve fell last month to its lowest level since March 2021, the latest sign that inflation in the United States is steadily cooling from its once-painful highs.
The inflation report that the Commerce Department issued Friday also showed that Americans’ willingness to keep spending, despite two years of high inflation and 11 Fed rate hikes over 17 months, remains a powerful driver of the economy.
Consumer spending rose 0.5% from May to June, up from 0.2% the previous month.
This can occur as persistent consumer demand enables more companies to raise prices, thereby keeping inflation above the Fed’s target and potentially causing the central bank to raise rates even higher.
Powell declined to offer any signal of the central bank’s likely next moves.
The Fed’s policymakers consider core prices a better measure of where inflation might be headed.
Thanks for the heads up. I removed the indents so hopefully that helps. I’ll also see if there is a setting in TLDRThis to get rid of those.
Oh, so that’s what that was. It was doing that in the Connect app too, but not monospace.