Daily Bread for 2.13.24: National Inflation Rate Continues to Decline

 Good morning.

Tuesday in Whitewater will be mostly sunny with a high of 37. Sunrise is 6:53 and sunset 5:24 for 10h 30m 15s of daytime. The moon is a waxing crescent with 18.6% of its visible disk illuminated. 

The Whitewater School Board’s Calendar Committee meets at 4 PM, and Whitewater’s Public Works Committee meets at 6 PM.

On this day in 1689, William and Mary are proclaimed co-rulers of England.

Rachel Siegel reports Inflation eased further in January as Fed weighs when to cut rates (‘The report comes as the Federal Reserve is pressing on in its fight to tame high prices — with plenty of success already in the rearview mirror’):

Prices cooled further in January, offering the latest sign that inflation has eased significantly since its pandemic-era surge but still hovers above what policymakers consider normal.

Data from the Bureau of Labor Statistics on Tuesday morning showed prices rose 3.1 percent in January, compared with the year before. They also rose 0.3 percent compared with the previous month.

The report comes as the Federal Reserve presses on in its fight to tame high prices — but the central bank already has plenty of success in the rearview mirror. After sprinting to hoist interest rates in 2022 and 2023, officials are entering a new phase: cutting borrowing costs multiple times this year. The message is that even though inflation hasn’t settled all the way down, the economy is stable enough for the Fed to take its foot off the brake.

NASA’s Perseverance rover sees Martian moon Phobos transit the Sun:

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