Inflation cooled slightly to 3.3 percent in May, the Department of Labor reported on Wednesday morning. That’s a welcome sign that tees up the possibility the Federal Reserve will signal plans to cut interest rates later today. A rare one-two punch of economic news that will indicate whether the fight against inflation is being won makes Wednesday one of the most important days of the year for economic news, CNBC reports. This morning’s consumer price report from the Department of Labor was an encouraging sign, and all eyes now turn to this afternoon’s decision by the central bank’s officials….