Federal Reserve nears victory over historic inflation, defying predictions of recession
The cost of goods — such as used cars, furniture and appliances — has fallen for six straight months.
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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.
Inflation has been falling steadily since peaking in June of last year at 9.1%. When the Fed's preferred inflation gauge for November is reported next week, it's likely to show that annual inflation actually dipped just below the Fed's target of 2%.
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 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.