6.5% over the yearlong period ending in December, which amounts to a significant slowdown from a summer peak but remains more than triple the Fed's target inflation rate of 2%.
The Fed is still "strongly committed to returning inflation to its 2% objective," the central bank said in a statement on Wednesday.on Monday, the International Monetary Fund projected that U.S. economic growth would slow this year but that the U.S. could still avoid a downturn. Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the Federal Reserve Board Building in Washington, DC, on Nov. 2, 2022.that the U.S. economy grew robustly at the end of last year, defying concerns about an imminent recession.
Still, most economists expect a recession later this year, as interest rate hikes weigh on the economy, according to a survey last week. Forecasters expect gross domestic product to fall over the second and third quarters of this year, the survey found.Home sales fell for the 11th consecutive month in December, reaching their lowest rate since November 2010, according to the National Association of Realtors.in December, ending the typically busy holiday shopping season with a whimper. Year-over-year retail sales dropped by about 1% last month, extending a nearly identical fall in November.
GMA FJB
Yet ABC ran articles all yesterday saying how Biden has the economy rolling.
we've seen the recession coming for years, when the world was locked down and the gov continued to handout money like it was Oxycontin or fentanyl.
Funny
Whoopi Goldberg just shamefully said on The View that “we need to see white people also get beaten before anybody will do anything” about the police. ABC needs to fire Whoopi immediately.
America shouldn't be a testing ground for the economy.
It would be really great if every misleading pic or story about inflation and eggs including the important info about avian viruses affecting egg production in 2022. Does the average person know that's why eggs are so expensive, or just lump it into 'inflation, blah, blah'
Regards are in charge please pay higher rates and more taxes though
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