U.S. June CPI fell 0.4%, likely cooling move toward Fed rate hikes

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U.S. June CPI fell 0.4%, likely cooling move toward Fed rate hikes

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The U.S. June Consumer Price Index (CPI) has fallen 0.4%, a cooling move that could significantly impact the Federal Reserve's decision on interest rate hikes at its late-July meeting, with a 0.5% rate increase now less likely. This development may ease pressure on the Fed to tighten monetary policy, potentially stabilizing the stock market.

This morning's report could go a long way toward determining whether the Federal Reserve raises interest rates at its late-July meeting.