Tag: inflation
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Fed Chair Powell sees progress on inflation, though not quickly enough
Inflation may be cooling — just not yet fast enough for the Federal Reserve. Chair Jerome Powell offered a nuanced view Wednesday of how the Fed intends to address its core challenge at a time when inflation is both way below its peak but still well above the central bank’s 2% target: Give it more time, and maybe some help from additional interest rate hikes.
Inflation Reduction Act Continues to Lower Out-of-Pocket Prescription Drug Costs for Drugs with Price Increases Above Inflation
A continuing key priority of the Biden-Harris Administration is lowering prescription drug costs. The Department of Health and Human Services, through the Centers for Medicare & Medicaid Services (CMS), announced the list of 43 prescription drugs for which Part B beneficiary coinsurances may be lower between July 1 – September 30, 2023.
A measure of inflation that is closely tracked by the Federal Reserve increased in April
A key index of U.S. prices ticked higher in April, and consumer spending rebounded, a sign that inflationary pressures in the economy remain high.
Survey of economists: Inflation will stay high this year, and so will Fed’s key interest rate
The Federal Reserve will make only modest progress in its fight against inflation for the rest of this year, even while keeping its benchmark interest rate at a 16-year high, a group of business economists predict in a survey released Monday.
Americans likely saw little relief from inflation in April
After steadily declining for nearly a year, consumer price data to be released Wednesday will likely show that U.S. inflation remained stubbornly high in April, a sign that it might be entering a newer, stickier phase.
