While acknowledging much of recent inflation proved transitory after all, the Fed sees no reason to pause rate increases in the wage and labor data
Recent readings on wages and prices have markets increasingly optimistic inflation can be brought down without a recession.
The Federal Reserve would love to agree, but it can’t. Net yet, anyway. In its quarter-percentage-point, the accompanying statement and Chair Jerome Powell‘s press conference, the central bank made it clear its views had not changed. Inflation is still too high and won’t return to its 2% target without higher interest rates and a weaker labor market.
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