High Inflation Persisted In August As Spending Slowed

ToplineAmericans appeared to slow down their spending last month amid President Donald Trump’s tariffs, according to federal data released Friday, which showed the Federal Reserve’s preferred inflation gauge matched Wall Street’s projections for August. Fed Chair Jerome Powell earlier this week suggested the “near-term risks” of inflation had improved. Getty ImagesKey FactsAnnual inflation was 2.9% in August, matching July’s price increases, the Bureau of Economic Analysis reported Friday for core personal ...