With the post-pandemic spike in U.S. inflation easing further last month, the path was cleared for the Fed to cut interest rates

Inflation fell four-tenths of a percentage point to 2.5% for the year in August, the Bureau of Labor Statistics reported Wednesday.

U.S. inflation slowed to 2.5 percent in the year through August, but beneath the surface the details suggested that the costs of key categories, like housing, were stubborn.