Yet new data signal potential relief for consumers’ wallets in the year ahead.
’ decision to not declare America's economy to be in recession territory despite an overall slowdown.
“Most Fed officials appear to want to see wages rising by a bit less than 4%,” Shepherdson continued, according to“We think that's realistic as an objective for the middle of next year, but it will require a modest increase in the unemployment rate and a clear downshift in inflation expectations.”that a so-called “soft landing,” in which the Fed reels in inflation without triggering a recession, becomes “more possible” with inflation numbers that continue to slow.
Powell said that “[p]rice pressures remain evident across a broad range of goods and services” and that “Russia’s war against Ukraine has boosted prices for energy and food and has contributed to upward pressure on inflation.”
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