'Experts from Nobel Laureate economists to business leaders agree: adding more fuel to the fire risks throwing our economy into a painful recession.'
. Compared to a year ago, inflation was up 7.1% in November, the lowest level since December 2021.
"The Fed is putting the onus of fighting inflation on workers and consumers rather than on the corporations responsible for it." "Today's cooler-than-expected CPI report sends a clear message that [Fed Chair Jerome] Powell should think twice before hiking up interest rates again," said Michael Mitchell, director of policy and research at the Groundwork Collaborative."Powell himself has admitted that we have yet to feel the full impact of interest rate hikes on our economy.
"There was nothing in today's report that says anything but 'inflation slowing a lot,' even with the economy still looking healthy on many measures," Bivens added."In short, a 'soft landing' remains in reach, and the Fed should try really hard to secure it." The new CPI figures were released as Fed policymakers prepared for their latest two-day meeting, which is expected to conclude Wednesday with Chair Jerome Powell announcing another sizeable interest rate increase—likely
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