The Fed will do it.

"USA consumer prices rose modestly in June," as "The CPI gained 0.2 percent last month after edging up 0.1 percent in May, the Labor Department said" ET. The CPI came in at 3%, as "Annual prices have retreated sharply from their 9.1 percent peak in June 2022." However, core inflation was at 4.8%, down from 5.3% in May. Inflation is falling because the US Federal Reserve raised its Funds rate by 500 basis points since March 2022. "Federal Reserve officials appear poised to resume interest-rate hikes this month after data showed inflation cooled sharply in June but remains above the central bank's target." yahoo. "But Richmond Fed President Thomas Barkin said the growth in US consumer prices is still too quick even as it slowed in June, reiterating the central bank's commitment to restoring inflation to its 2% goal." "US jobs growth slowed last month," as "Employers added 209,000 jobs in June," which was "fewer than expected, though the unemployment rate still fell to 3.6%, down from 3.7% in May." BBC. Even so, "The Federal Reserve will likely raise its benchmark interest rate later this month to a 5.25%-5.5% range, traders bet on Friday (7 July), even as they priced a slightly lower chance of any further increase after a government report showed hiring slowed more than expected in June. Traders now see a 20% chance of a rate hike in September and a 40% chance of one by November." Reuters. "Employers posted 9.8 million job vacancies, down from 10.3 million in April, the Labor Department said. But layoffs fell slightly, and more Americans quit their jobs - a sign they were confident they could find better pay or working conditions elsewhere." PBS. The probability of a recession in the US jumped from 5.93% on 30 June 2023 to 17.63% on 31 July 2023 and to 67.31% on 30 June 2024. ycharts,com. "Bank of America responded by shelving the recession call it made at the start of the year, while Goldman Sachs economists say there's now just a 25% chance of a severe slump," but JP Morgan still believes that "there's just a 23% chance the US avoids a recession." BI. The US may be doing well, but developing economies are doing even better, wrote Ruchir Sharma. "Among the 25 largest emerging economies, three-quarters of those reporting data have beaten growth forecasts this year, some including India and Brazil, by a wide margin." "Forecasters now expect emerging economies to grow at an average pace above 4% over the coming year, or four times faster than the developed ones." However, "The rupee...closed at its weakest level versus the US dollar in almost a month as the minutes of the Federal Reserve's latest meeting indicated that the monetary policy would continue to be tightened in the world's largest economy, thus narrowing the rate differential with India." ET. Americans trust the Fed. Do Indians trust our Reserve Bank? People buy gold as a hedge. Safest investment.DNA.