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WASHINGTON. — US consumer prices were unchanged in September and underlying inflation retreated, supporting expectations the Federal Reserve will cut interest rates in October for the third time this year amid risks to the economy from trade tensions.
A strong labour market could, however, complicate matters for the Fed. Other data yesterday showed an unexpected decline in the number of Americans filing claims for unemployment benefits last week. Layoffs remain low even as companies are becoming hesitant to hire more workers because of a slowing economy. The unemployment rate is near a 50-year low of 3,5 percent. The economic expansion, now in its 11th year, is under threat from the 15-month-old US-China trade war, slowing growth overseas and a likely disorderly exit from the European Union by Britain. The trade war has undermined business investment and helped to drive manufacturing into recession. — Reuters.
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