Folks tired of paying higher prices for pretty much everything shouldn’t expect help anytime soon from the central bank.
Even though the Federal Reserve is about to embark on an inflation-fighting strategy, the impact won't be felt for months or longer.
The Fed has no direct way of lowering the cost of a loaf of bread at the grocery store or a fast-food burger or even a gallon of gas. Even though the central bank is about to embark on an inflation-fighting strategy, the impact won't be felt for months or longer, economists say. "What it will do is it will limit the persistence of price increases," said Joseph Brusuelas, chief economist at RSM, an accounting service."The expectation that we should all have is the action the Fed takes today really won't be apparent until the fourth quarter of this year and all of next year."
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