U.S. consumer prices rose 3.7% year over year in September, marking more than five consecutive years of readings above the Federal Reserve’s 2% target, the longest such streak of the 21st century. Average CPI since early 2021 has hovered around 4.5%, a level not seen since a period ending in the 1980s. One-year inflation expectations climbed to 3.9% in September, the highest reading in more than three years, according to the New York Fed. The Fed is concerned that consumers are beginning to accept high inflation as a permanent state, which could make price increases a self-fulfilling prophecy and render monetary policy tools less effective in slowing price growth.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
