Crashing egg prices signal the Fed is winning its war against inflation
over the past year due to soaring inflation and a bird flu outbreak. Those factors helped drive the average cost of a dozen eggs up nearly 60% last year.
However, as inflation rapidly cools thanks to the Fed's aggressive interest-rate hike campaign, egg prices appear to be falling back down to earth. . That was the slowest rate since May 2021 and below expectations of a 5% increase., and has now lifted rates from nearly zero to upwards of 5% over the past 14 months or so.
Fed Chair Jerome Powell has pledged to bring inflation down to the central bank's 2% target"because we know in the longer run that that is the thing that will most benefit the people we serve," he said recently. As inflation appears to be waning, odds that the Fed will pause its rate-hike regime have risen to 92.1% among traders, according to the
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