US inflation slows to 3.5% in June after energy dip
Business
Inflation in the US slowed down in June, rising just 3.5% compared with last year, a pullback from a three-year high in inflation and better than analysts expected.
This drop mostly came from a brief dip in energy prices, thanks to talks about a possible U.S.-Iran deal.
Still, global tensions kept everyone on their toes.
Oil rises amid Middle East fighting
Even with the slowdown, oil prices are back up as Middle East conflicts flare up again.
President Donald Trump recently called off ceasefire efforts, which pushed energy costs higher.
Federal Reserve Chairman Kevin Warsh is set to speak before Congress today and says he's confident, "If we get policy right, and we will, the inflation surge of the last five years will be a thing of the past."