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Inflation eases slightly as Fed leaves interest rates unchanged

The Federal Reserve left interest rates unchanged Wednesday after the government announced consumer prices in May rose 3.3% year over year. The central bank has been hesitant to cut rates due to inflation. Ben Casselman, economy reporter for The New York Times, joins CBS News to unpack the data. CBS News 24/7 is the premier anchored streaming news service from CBS News and Stations that is available free to everyone with access to the internet and is the destination for breaking news, live events, original reporting and storytelling, and programs from CBS News and Stations' top anchors and correspondents working locally, nationally and around the globe. It is available on more than 30 platforms across mobile, desktop and connected TVs for free, as well as CBSNews.com and Paramount+ and live in 91 countries. Subscribe to the CBS News YouTube channel:    / cbsnews   Watch CBS News 24/7: https://cbsnews.com/live/ Download the CBS News app: https://cbsnews.com/mobile/ Follow CBS News on Instagram:   / cbsnews   Like CBS News on Facebook:   / cbsnews   Follow CBS News on X:   / cbsnews   Subscribe to our newsletters: https://cbsnews.com/newsletters/ Try Paramount+ free: https://paramountplus.com/?ftag=PPM-0... For video licensing inquiries, contact: [email protected]