Inflation has cooled in the past several months, according to the Fed’s preferred inflation gauge and the Consumer Price Index, though some Fed officials have said that it’s not cooling fast enough.
Indeed, the labor market remains on strong footing.
“Overheating in the labor market has played a minor role but an increasing one over time.
Overall inflation crept up throughout that year, then the Fed began to raise interest rates in March 2022 from near zero.
Despite the failures of three regional banks since March, the Fed still raised interest rates two more times during that period.
Persons:
Ben Bernanke, ” Bernanke, Olivier Blanchard, Blanchard, they’re, Mary Daly, ” Daly, isn’t
Organizations:
DC CNN, Former Federal, Fed, International Monetary Fund, Brookings Institution, Federal Reserve Bank of San
Locations:
Washington, Washington ,, Federal Reserve Bank of San Francisco