Thursday's consumer-price index for August included an annual core inflation rate of 3.1%, which has remained above 2% since April 2021. It may take a recession to lower this rate to 2% in the next several years.

As the Federal Reserve cut its federal funds rate, here’s how it ripples through the economy and influences your finances.

The S&P 500 and the Nasdaq scaled fresh intraday record highs on Wednesday driven by a surge in cloud computing firm Oracle, while cooler-than-expected inflation data kept the U.S. Federal Reserve on track to cut borrowing costs this year.

Meanwhile, wholesale inflation unexpectedly declined last month, bolstering the case for the Federal Reserve to cut rates next week. Oracle stunned Wall Street as its CEO said its cloud revenue will skyrocket thanks to a big jump in bookings from the "who's who of AI.

Economists are split into opposite camps on which is more important for the Fed to battle — slower growth or higher inflation.

After a weak jobs report, the producer and consumer price indices for August could be the next worry for the markets and the Fed.

Inflation rose last month as the price of gas, groceries, and airfares jumped, while a measure of layoffs also increased, putting the Federal Reserve in a tough spot as it prepares to cut rates at its meeting next week despite persistent price pressures.

Consumer companies rallied amid increased confidence in a Federal Reserve rate cut. Goods inflation was relatively muted in August, according to the latest tally from the Labor Department. On the jobs front,