America’s inflation problem has improved greatly, but it’s proving to be stubborn when it comes to services. That means the Federal Reserve, which is tasked with stabilizing prices, could keep interest rates higher for longer if the rising cost of your haircut and doctor’s visit doesn’t slow soon.
America’s inflation problem has improved greatly in some respects — but it remains stubborn for the price of services.That means the Federal Reserve, which is tasked with stabilizing prices, could keep interest rates higher for longer if the rising costs of your haircut, your doctor’s visit and other services don’t abate soon. Price growth has slowed steadily over the past year but it’s been a bit of a bumpy ride.
On the one hand they’re watching to see if disinflation will broaden out beyond goods and on the other hand, they’re watching the economy closely to see if it’s showing signs of slowing. Despite those concerns of inflation stalling, more investors are now pricing in a soft landing compared to last year when many expected a recession.
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