But the run-up in prices has persisted longer than the Fed expected and has spread from goods like food, energy and autos to services like apartment rents, restaurant meals and hotel rooms. It has weighed heavily on consumers, especially lower-income households and particularly for everyday necessities, and negated the higher wages many workers have received.
The Fed’s new policy shift does carry risks. Raising borrowing costs too quickly could stifle consumer and business spending. That, in turn, would weaken the economy and likely raise unemployment. Fed officials have said they expect inflation to cool by the second half of next year. Gas prices have already come off their peaks. Supply chain bottlenecks in some areas are gradually easing. And government stimulus payments, which helped spur a spike in spending that boosted inflation, aren’t likely to return.
Jimmy Carter 2.0 Paul A. Volcker Chairman, Board of Governors, 1979–1987 President, Federal Reserve Bank of New York, 1975–1979
i did not consent to this manufactured claim of the pandemic being post, do better b
Testing the waters , but economy will go stagnant with rate increase , people are high on cheap money , semi conductors will get back into market , new cars and trucks sale will slow , people are high on cheap money is the only thing keeping us going !
Will existing credit card debt, for many was incurred due to financial problems during the pandemic, be locked at the interest rate in effect when acquired & only new debt acquired after new rate is in effect be charged at new interest rate? CC companies must be made to do this.
'Post Pandemic? The propaganda levels are redlining.
lol the democrat party is going to go the way of the whig party
'Post-pandemic' 🙄🙄🙄 People are still dying all over the place. More people died from COVID this year than last, and we are on track to surpass 1 million deaths by the time it is actually over.
So glad the pandemic is over!
800,000 dead, at a minimum, and more every day is not post-pandemic
Remember, these are the same peoples who said inflation was transitory. It’s going to be a bumpy ride for a few years. Spend your cash wisely.
Cool, let us know when we're post-pandemic
Not a shocker 🙄
Wait so Biden wasn't responsible for inflation. I'll be damned.