Photo: Guests wearing protective masks sit socially distanced on a rollercoaster at the Six Flags Entertainment Corp. La Ronde amusement park in Montreal, Quebec, on July 25, 2020. The park is reopening to members today with reduced attendance, new safety measures, and hygiene protocols. Photographer: Christinne Muschi/Bloomberg Guests wearing protective masks sit socially distanced on a rollercoaster at the Six Flags Entertainment Corp. La Ronde amusement park in Montreal, Quebec, on July 25, 2020. The park is reopening to members today with reduced attendance, new safety measures, and hygiene protocols. Photographer: Christinne Muschi/Bloomberg

U.S. inflation cooled even as the job market remained resilient, bolstering the case that the Federal Reserve can accomplish a soft landing for the economy.

The central bank's preferred underlying inflation metric posted the smallest back-to-back increases since late 2020, encouraging a boost in consumer spending. A separate report showed employers added more jobs than forecast in August while wage growth cooled.

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