Inflasi melambat pada bulan Agustus, membuka jalan bagi penurunan suku bunga


Gambar Javier Guersi/Getty

(NEW YORK) – Harga konsumen meningkat pada tingkat tahunan sebesar 2,5% pada bulan Agustus, melambat lebih dari yang diperkirakan dan memberikan kabar baik bagi Federal Reserve hanya beberapa hari sebelum penurunan suku bunga diperkirakan secara luas.

Inflasi turun tajam dari tingkat tahunan bulan sebelumnya sebesar 2,9%.

Kenaikan harga telah turun dari puncaknya pada tahun 2022, namun inflasi tetap berada di atas tingkat goal Federal Reserve sebesar 2%.

Menurut alat CME FedWatch, yang mengukur sentimen pasar, kemungkinan penurunan suku bunga pada pertemuan Federal Reserve minggu depan hampir pasti. Pengamat pasar berbeda pendapat mengenai apakah The Fed akan menerapkan penurunan suku bunga sebesar seperempat persentase atau memilih penurunan suku bunga setengah persentase yang lebih besar.

Sepanjang tahun ini, pasar kerja telah melambat seiring dengan meredanya inflasi. Laporan pekerjaan minggu lalu yang lebih lemah dari perkiraan menggarisbawahi tren ini, meskipun perusahaan menambah 142.000 pekerjaan. Tingkat pengangguran naik dari 3,7% menjadi 4,2% tahun ini.

Misi ganda The Fed adalah mengendalikan inflasi dan memaksimalkan lapangan kerja. Secara teori, suku bunga rendah membantu merangsang aktivitas ekonomi dan meningkatkan lapangan kerja, sementara suku bunga tinggi memperlambat kinerja perekonomian dan memitigasi inflasi.

Tren terkini telah mengalihkan fokus The Fed dari mengendalikan inflasi menjadi memastikan pasar kerja yang sehat.

Bulan lalu, Ketua Fed Jerome Powell mengatakan dalam pidatonya pada pertemuan tahunan di Jackson Gap, Wyoming, bahwa “waktunya telah tiba” bagi The Fed untuk menyesuaikan kebijakan suku bunganya.

Powell mengatakan pada pertemuan sebelumnya bahwa sebelum memangkas suku bunga, The Fed perlu yakin bahwa inflasi telah mulai menurun secara berkelanjutan ke tingkat goal 2%. Bulan lalu, Powell tampak menyarankan The Fed telah mencapai tujuan tersebut.

“Saya semakin yakin bahwa inflasi dapat turun secara berkelanjutan hingga 2%,” kata Powell.

Sejak tahun lalu, Federal Reserve telah mempertahankan suku bunga pada stage tertinggi dalam lebih dari dua dekade. Biaya pinjaman yang tinggi untuk segala hal mulai dari hipotek hingga pinjaman kartu kredit telah membantu memperlambat pertumbuhan ekonomi dan menurunkan inflasi, namun kebijakan tersebut mengancam akan membawa AS ke dalam resesi.

Bulan lalu, ekonom Goldman Sachs meningkatkan kemungkinan resesi AS tahun depan dari 15% menjadi 25%. Namun para ekonom mempunyai pendapat yang berbeda mengenai apakah kondisi ekonomi saat ini memerlukan perhatian serius.

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