US inflation eases up ahead of Fed's rate cut meeting
Inflation in the US is easing up—September's Producer Price Index came in below expectations, which, according to market expert Manish Singh, strengthens the case for a possible 0.5% rate cut from the Federal Reserve at their meeting next week.
Slower economic growth and normalized supply chains may also prompt the Fed to act.
Wall Street barely reacted to the news
Even with lower inflation, Wall Street barely reacted—the Dow dipped just 0.2%.
Analyst Manish Singh points out that if GDP keeps slowing, it could still be tough for markets.
Meanwhile, new job numbers show there were 900,000 fewer jobs added last year than we thought, hinting the US may have already gone through a mild recession.
As political voices like Donald Trump push for bigger cuts, Singh says it's important for the Fed to keep decisions independent and focused on real economic signals.