samira hussein has more. from new york the headline in these latest inflation numbers is that the cost of living in the united states is headed in the united states is headed in the united states is headed in the right direction. inflation rose 3% in the month ofjune. down a full percentage point from a month earlier. and it has fallen pretty sharply from its peak of more than 9% injune of last year. it is a sign that the federal reserve�*s moves to raise interest rates to slow down inflation seems to be working. but analysts still think america's central bank will raise interest rates one more time at their next meeting. now, the cooler inflation is good news for consumers but it is also good news for us presidentjoe biden, who touted the administration's efforts to bring prices down. now, he's facing re—rlection next year and being able to control inflation without pushing the economy into a recession will be key if he want another four years in the white house. william lee is the milken institute chief eco