For economists, the surge in public alarm over inflation is puzzling. By most measures, both the national economy and the personal economies of Americans are doing quite well. Gross domestic product rose last year at the fastest pace since 1984, recovering all of the output lost during the pandemic-induced recession in 2020. Moreover, the unemployment […]
Tag: inflation
Inflation Soars To Highest Levels Since 1982
Consumer prices rose 7.5 percent annually by the end of January, according to data released Thursday by the Labor Department, the fastest rate since February 1982. The Labor Department’s consumer price index (CPI), which tracks inflation, rose on an annual basis for the sixth consecutive month and above the 7.2 percent increase projected by a […]
Yellen Says Rate Hikes Will Slow As Inflation Stays Low
The Federal Reserve could scale back on its expected pace of interest rate hikes if inflation continues to be soft, Chair Janet Yellen told Congress. Under questioning over why the central bank remains committed to normalizing policy even as price and wage pressures remain muted, Yellen said the Fed is aware of the softness in […]