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It was the most painful inflation Americans had experienced since 1981, when “The Dukes of Hazzard” and “The Jeffersons” were topping the TV charts. Yet the Federal Reserve now seems on the verge of defeating it — and without the surge in unemployment and the deep recession that many economists…
WASHINGTON (AP) -- It was the most painful inflation Americans had experienced since 1981, when "The Dukes of Hazzard" and "The Jeffersons" were topping the TV charts. Yet the Federal Reserve now seems on the verge of defeating it -- and without the surge in unemployment and the deep recession that many economists had predicted would accompany it.
The cost of goods — such as used cars, furniture and appliances — has fallen for six straight months.
The lowering of inflation without sending the U.S. into a recession felt like an impossible goal. But the Fed seems to have managed the impossible.
The cost of goods — such as used cars, furniture and appliances — has fallen for six straight months.