Squeezing out the last bit of excess inflation and reducing it to the Federal Reserve's 2% target rate is expected to be a much harder and slower grind.
, the government said, the slowest pace in a year and a half.
At his most recent news conference, Fed Chair Jerome Powell sounded some cautious but hopeful notes about the prospect of a soft landing. Yet a defining characteristic of the post-pandemic economy has been resilience, with consumers in particular showing a surprisingly persistent willingness to spend. Some economists worry that it will take a sharp rise in unemployment to reverse that trend and finally conquer inflation.
"The Fed’s aggressive rate hikes disproportionately threaten Black workers and their families and risk fully reversing the extraordinary labor market gains we have seen," Warren, a frequent Fed critic, wrote.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Federal Reserve Official: More U.S. Rate Hikes Needed to Combat InflationGovernor Michelle Bowman stated that the U.S. Federal Reserve will likely have to increase interest rates in order to reduce inflation, as strong consumer spending, a rebound in the housing market, and a robust labor market contribute to higher prices.
Read more »
Fed’s Bowman suggests further interest-rate hikes if US inflation improves“US Federal Reserve will likely need to raise interest rates further to bring down inflation,” Per Federal Reserve (Fed) Governor Michelle Bowman’s re
Read more »
Federal Reserve’s ‘absolute control’ of digital currencies will be an Orwellian nightmareThe people who are pulling out all the stops to destroy former President Donald Trump are also bent on destroying American freedom.
Read more »
Federal Reserve Governor Hints at More Interest Rate HikesFederal Reserve Governor Michelle Bowman suggests that additional interest rate hikes may be necessary in order to bring inflation closer to the Fed's target.
Read more »
US Dollar Index: DXY steadies around 102.00 as Fed hawks flex muscles ahead of US inflationUS Dollar Index: DXY steadies around 102.00 as Fed hawks flex muscles ahead of US inflation – by anilpanchal7 DollarIndex Fed Inflation RiskAversion CPI
Read more »