Inflation cools in June as Fed chair Kevin Warsh tells Congress the job isn't done
U.S. annual inflation slowed to 3.5% in June from 4.2% in May, driven by a temporary ceasefire between Iran and the U.S., which lowered gas prices. Core inflation also declined slightly to 2.6%. Federal Reserve Chair Kevin Warsh testified before Congress that more work is needed despite this progress.
Topics: CPI Federal Reserve inflation monetary policy