Inflation continues to loosen its grip on American consumers, with price hikes slowing by the most in three and a half years, according to new data from the Bureau of Labor Statistics released Wednesday.

A week's worth of inflation data showed that price pressures have eased substantially since their meteoric rise in 2021-22. Fed officials head into their two-day policy meeting Tuesday closer to their goal of low inflation,

Federal Reserve officials are heading into their policy meeting on Tuesday with a lot of optimism, and some uncertainty too. Inflation is finally cooling off, edging closer to their 2% target. But the big question remains:- How much will they ease up on interest rates?