(11 Sep 2024)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
ARCHIVE: North Palm Beach, Florida – 11 April 2023
1. People grocery shopping
ASSOCIATED PRESS
Washington, DC – 11 September 2024
2. SOUNDBITE (English) Christopher Rugaber, The Associated Press:
"On Wednesday, the government reported that inflation has fallen to a three-year low, which is good news for consumers who have been hit by high prices for the past three years. Many things, including groceries, gas, rent still cost a lot more than they did three years ago. But the price, the pace of increases is coming down and is really now back at a pre-pandemic level. And that clears the way for the Federal Reserve to cut its key interest rate when it meets next week. And as the Fed cuts its interest rate, that should lower borrowing costs over time for consumers for things like mortgages, credit cards, auto loans, and other borrowing. And may even help the economy."
ASSOCIATED PRESS
ARCHIVE: North Palm Beach, Florida – 11 April 2023
3. People grocery shopping
ASSOCIATED PRESS
Washington, DC – 11 September 2024
4. SOUNDBITE (English) Christopher Rugaber, The Associated Press:
"One reason that inflation has cooled is that gas prices have actually come down a lot in the past year. They’ve fallen about 10%. And grocery prices didn’t change at all from July to August, giving consumers some relief when they go shopping. Grocery prices are up less than 1% in the past year."
ASSOCIATED PRESS
ARCHIVE: Juno Beach, Florida – 10 May 2022
5. Various people pumping gas and gas signs
ASSOCIATED PRESS
Washington, DC – 11 September 2024
6. SOUNDBITE (English) Christopher Rugaber, The Associated Press:
"Inflation was 2.5% in August compared to a year ago, and that’s down from a peak of 9.1% in June 2022. The Federal Reserve would like to see inflation go to its target of 2%, which many economists think will happen sometime next year."
POOL
ARCHIVE: Washington DC – 20 March 2024
7. Various Federal Reserve Chairman Jerome Powell in a press conference
ASSOCIATED PRESS
Washington, DC – 11 September 2024
8. SOUNDBITE (English) Christopher Rugaber, The Associated Press:
"One thing that kept inflation a little bit higher last month is a rise in rent and housing costs, which have been stubborn for the past few years. Many Americans have moved out to new apartments or new homes seeking more space after the pandemic. But there are a lot of new apartments that have been built in the past couple of years and those are coming online. And that should cool rental price increases over the next…over the next few months."
ASSOCIATED PRESS
ARCHIVE: Seattle – 19 October 2023
9. Various townhouses under construction, for sale
ASSOCIATED PRESS
Washington, DC – 11 September 2024
10. SOUNDBITE (English) Christopher Rugaber, The Associated Press:
"So when the Federal Reserve meets next week, most economists expect they will cut their key interest rate by a quarter point. Some are hoping for maybe a half-point cut, which would be a larger reduction in borrowing costs and could bring down mortgage rates more quickly. But that’s unlikely to happen at the next meeting. When the Fed meets in November, it’s possible they could cut a half percent by then."
ASSOCIATED PRESS
ARCHIVE: Seattle – 19 October 2023
11. Various of home for sale
ASSOCIATED PRESS
ARCHIVE: Wellington, Florida – 15 August 2024
12. Various of mall shoppers
STORYLINE:
Still, over time, a series of Fed rate cuts should reduce the cost of borrowing across the economy, including for mortgages, auto loans and credit cards.
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