and it has fallen pretty sharply from its peak of more than 9% injune of last year. it is a sign that the federal reserve s moves to raise interest rates to slow down inflation seems to be working. but analysts still think america s central bank will raise interest rates one more time at their next meeting. now, the cooler inflation is good news for consumers but it is also good news for us presidentjoe biden, who touted the administration s efforts to bring prices down. now, he s facing re rlection next year and being able to control inflation without pushing the economy into a recession will be key if he want another four years in the white house. william lee is the milken institute chief economist and he says everyone is wondering whether this is a turning point. that is the ultimate question at the fomc and all the central banks around about asking themselves, has it peaked? a lot of the inflation decreases have come about because supply chain to become restored around th
it s a sign that the federal reserve s moves to raise interest rates to slow down inflation seems to be working, but analysts still think america s central bank will raise interest rates one more time at their next meeting. now, the cooler inflation is good news for consumers, but it s also good news for us presidentjoe biden, who touted the administration s efforts to bring prices down. now, he is facing re election next year and being able to control inflation without pushing the economy into a recession will be key if he wants another four years in the white house. samira hussain there. let s bring in the milken institute s chief economist, william lee, whojoins us now from nevada. that s the ultimate question that all the central banks around the world are asking them selves. has the us peaked? lots of prices and inflation decreases have come out because supply chains have been restored around the world and consumers are able to get the stuff they want to buy. one of the
and it has fallen pretty sharply from its peak of more than 9% injune of last year. it is a sign that the federal reserve s moves to raise interest rates to slow down inflation seems to be working. but analysts still think america s central bank will raise interest rates one more time at their next meeting. now, the cooler inflation is good news for consumers but it is also good news for us presidentjoe biden, who touted the administration s efforts to bring prices down. now, he s facing re rlection next year and being able to control inflation without pushing the economy into a recession will be key if he want another four years in the white house. william lee is the milken institute chief economist and he says everyone is wondering whether this is a turning point.
supply chains have been restored around the world and consumers are able to get the stuff they want to buy. one of the things the fed is concerned with is that even though the headline numbers are down to 3%, way down from 9%, the court rate of inflation which is excluding the food and energy components is still high. nowhere near the 2% target. we have a good down payment but i think we have yet to see convincing evidence that the turn has actually arrived in a convincing way. turn has actually arrived in a convincing way. what does that mean for the convincing way. what does that mean for the federal convincing way. what does that mean for the federal reserve l mean for the federal reserve next move? we were expecting two more hikes. has this latest information data change that or not? i information data change that or not? ., ~ information data change that or not? ., ~ , , not? i don t think most members ofthe not? i don t think most members of the committee not? i don t