Fed’s Preferred Inflation Gauge Cooled in September

“Inflation has been cooling for two years, and fresh data released on Thursday showed that trend continued in September. Prices climbed just 2.1 percent compared with a year earlier,” the New York Times reports.

“That is nearly back to the Federal Reserve’s 2 percent inflation goal — good news for both the Fed and the White House. It is also slower than the previous reading, which stood at 2.3 percent.”

Playbook: “It’s good news for the Fed and perhaps more importantly for Kamala Harris — but whether she can turn the reality into real impact next week remains to be seen.”