WASHINGTON (AP) — With its larger-than-usual half-point cut to its key interest rate last week, the Federal Reserve underscored its belief that it's all but ...
to its key interest rate last week, the Federal Reserve underscored its belief that it's all but conquered inflation after three long years.by The Associated Press-NORC Center for Public Affairs Research, show that most Americans remain unhappy with the economy, still bruised by an inflation rate that hit a four-decade high two years ago as the economy rebounded from the pandemic recession.
That is a sign that, at least seen through a political prism, Americans' economic views have begun to brighten. Sofia Baig, an economist at the polling firm Morning Consult, noted that Americans still see high prices as a financial burden. According to, she said, when most people think about inflation, they think about how much lower prices were two or four years earlier. Fed officials and economists, by contrast, typically measure success in shorter-term durations — prices compared with a year ago, six months ago, even one month ago.
Baig also cites the influence of social media, which has been rife with photos and videos of consumers pointing to exorbitant prices, for dimming Americans' view of the economy. “It felt more normal,” said Deloney, 38. “I definitely feel like inflation has come down. It feels better.” On Friday, Christopher Waller, an outspoken member of the Fed’s governing board, suggested in an interview on CNBC that there's even a risk that inflation could fall well below the central bank's 2% target in the coming months — a key reason, Waller said, that he supported last week's half-point rate cut.
President Donald Trump Inflation Rate Kamala Harris Consumer Sentiment Jerome Powell President Joe Biden Federal Reserve Inflation Gauge Americans Christopher Waller
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