Stubborn Inflation Leaves The Fed, Markets Staring Into Uncertainty
ForbesJUL 2023
The economy is not working for the working-class American consumer, and the Fed’s interest rate hikes — which slow wage growth and make mortgage rates explode — haven’t done enough to slow inflation. Hardworking Americans and small businesses are being hit hardest and can't see a way out under current policy.
This report is overall positive news for the economy, even if the inflation was a little higher than hoped. Core inflation is slowing and the economy is trending up, so the Fed’s policy is working as intended.