This
morning,
annualized
headline
inflation
growth
fell
to
2.5%
for
August,
compared
to
the
2.9%
rate
in
July.
This
marked
the
weakest
result
since
the
2.6%
increase
in
March
2021.
That
means
the
Fed
is
closing
in
on
its
2%
target.
The
change
will
support
rate
cuts
moving
forward.
That
will
underpin
steady
economic
growth
and
a
long-term
rally
in
bitcoin
and
ethereum.
But
don’t
take
my
word
for
it,
let’s
look
at
what
the
data’s
telling
us…
Each
month,
the
Federal
Reserve
Banks
of
Dallas,
Kansas
City,
New
York,
and
Philadelphia,
reach
out
to
manufacturers
in
their
regions
to
gauge
levels
of
business.
They
ask
about
things
like
new
orders,
backlog,
inventories,
delivery
times,
and
employment.
Survey
respondents
say
whether
business
has
increased,
decreased,
or
stayed
the
same.
The
data
is
then
compiled
into
a
composite
index.