Inflation is slowing so much that some economists said it could pave the way for another big Fed rate cut, if other data suggest one is warranted.

An inflation metric closely watched by the US Federal Reserve crept lower Friday, according to government data, supporting the central bank's decision earlier this month to begin cutting interest rates -- ahead of November's presidential election. "We think the data show enough progress on key inflation metrics for policymakers to continue cutting rates," the economists added.

An inflation metric closely watched by the US Federal Reserve crept lower Friday, according to government data, supporting the central bank's decision earlier this month to begin cutting interest rates -- ahead of November's presidential election. "We think the data show enough progress on key inflation metrics for policymakers to continue cutting rates," the economists added.

Sept. 27 (UPI) -- Inflation continued to inch closer to the Federal Reserve benchmark target on Friday, falling to 2.2% year-to-year in August, beating Wall Street forecast.

(Bloomberg) — The Federal Reserve’s preferred measure of underlying US inflation and household spending rose modestly in August, underscoring a cooling economy.

The Federal Reserve’s preferred inflation measure provided the latest sign that price pressures are easing, a trend that is expected to fuel further Fed interest rate cuts.