A slowdown in inflation in May was a big step in the right direction, Chicago Federal Reserve Bank President Austan Goolsbee said Friday, but prices need to decelerate further to support a reduction in U.S. interest rates.
Federal regulators are investigating how parts made with titanium that was sold with falsified quality documentation wound up in Boeing and Airbus passenger jets that were built in recent years.
The president of the Cleveland Federal Reserve said the low inflation readings in May were great news, but the central bank needs to "see that continue a bit longer" before it can cut interest rates.