Local Economist Breaks Down Lowering Inflation Rate, Possible Interest Rate Cut

The U.S. Labor Department released a report showing inflation at its lowest rate in over three years, yet people are still feeling the strain of high prices. Economists say the downward trend signals that some good changes are ahead. “It’s positive in that it’s coming down. You know, we don’t want inflation at eight or 9 or 10%. I mean that’s absurd,” Steve Agee, a professor of economics at Oklahoma City University, said.

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