The Federal Reserve has repeatedly signaled that it will cut interest rates this year. From Chair Jerome Powell’s comments to the Summary of Economic Projections data, the central bank is all but guaranteed to pull the trigger on the first rate cut in the coming months. Even President Joe Biden has weighed in on the issue and expects a pivot. But there’s just one problem: Inflation is far from reaching the Eccles Building’s 2% target. The treasure trove of recent measurements has ignited rumblings that the Fed may actually raise rates this year instead. Federal Reserve and Inflation
While Americans watch the consumer price index (CPI) with bated breath every month, the monetary authorities assess a mountain of other metrics to determine […]
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