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of a possible recession in the pipelines. our business reporter katie silva who has been looking into the details of the story for us, joins me now on the program. katie, it is always great to see you on asia business report and this seems like relatively good, doesn t it? it does. it has been welcomed in high quarters. president biden, for example, saying that it gives american families some breathing room and particularly pointing to the fact that we ve seen the greatest reduction in the costs of gas as well as food and grocery expenses things that are very important to american families. but the excitement should be tempered somewhat. of course, the us like many major economies pursues an inflation target in the order of around 2%, so 5% is still a long way off that, and if we were to take out those impacts of the fuel and food prices, that would leave us with a figure called core inflation and, in fact, core inflation actually rose, particularly driven by increase ....
Particularly driven by increase in cost when it came to housing as well as medical costs as well, asa as a result we are still expecting the feds continuing the process of high interest rates. many unless could say it could be a quarter of a percentage point at the next hike. rates at the moment are up hike. rates at the moment are up at their highest level in more than 15 years and if we do indeed see that hike, we could see the 10th straight hike in a row. ., , ., see the 10th straight hike in a row. ., , row. lots for fed policymakers to think about row. lots for fed policymakers to think about and row. lots for fed policymakers to think about and to - to think about and to contemplate but also concerns of a possible recession looming? of a possible recession loomin: ? . 3 ~ of a possible recession loominu? . , . ., looming? that s right. we also heard in the looming? that s right. we also heard in the minutes looming? that s right. we also heard in the minutes we - loom ....