Inflation

Federal Reserve Gov. Christopher Waller, a Trump appointee, said that while recent inflation readings are concerning, monetary policy would remain restrictive even if the central bank cuts interest rates by another quarter-point this month.

Underlying U.S. inflation eased for a fourth month on an annual basis in July, keeping the Federal Reserve on track to lower interest rates next month.

The Federal Reserve held firm on its current interest rate levels after its latest meeting, but inflation numbers are leading to talk of potential action in third and fourth quarters.

The so-called core personal consumption expenditures price index barely rose in November and trailed policymakers' 2% target by one measure, reinforcing the central bank's pivot toward interest-rate cuts next year.

The so-called core consumer price index, which excludes food and energy costs, increased 0.2% from September, Bureau of Labor Statistics data showed Tuesday.

The Consumer Financial Protection Bureau, Federal Reserve and other banking regulators rolled out their annual adjustments for the thresholds that determine whether activities are eligible for enhanced standards.

Consumer spending has driven core inflation metrics to their highest levels in months, according to data released by the Bureau of Economic Analysis. Higher inflation will likely serve as a signal to the Federal Reserve to maintain high interest rates.

The Federal Reserve released its semiannual financial stability report highlighting elevated asset values, funding issues and pockets of leverage as top concerns.

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