The annual inflation rate in the United States was 3.3 percent for the 12 months ending in May, which was down one tenth of a point from the same period last year. That’s according to data published in June by the U.S. Labor Department.
The Federal Reserve has warned of interest rate hikes if inflation persists. However, according to Michael Busler, a professor of finance at Stockton University, there is a possibility of a rate cut by September if inflation continues to cool.