Biden cheers cooling inflation ahead of key Fed interest rate decision
President Joe Biden on Wednesday took a victory lap on the latest inflation report, which found that consumer prices did not rise in May over their April levels, marking the first time since 2022 that U.S. month over month inflation has remained flat. "Prices are still too high, but today's report shows welcome progress on lowering inflation," Biden said in a statement. The other good news for consumers from the federal Bureau of Labor Statistics report was that the annual rate of inflation fell to 3.3% in May, down from 3.4% in April and 3.5% in March. The numbers also came in cooler than economists had expecte