InvestorPlace – Stock Market News, Stock Advice & Trading Tips
The U.S. Federal Reserve started its interest rate hike campaign in March 2022 after inflation had risen to an unprecedented level. Though inflation hit at record annualized rate of 9.1% in June of last year, prices have started to come down since then. For those looking to see how far the Fed has come in its fight against inflation, look no further than the CPI reports in June, July, and August the Bureau of Labor Statistics reported pricing pressures had come down significantly. Moreover, the August inflation report, in particular, exhibited positive developments in the labor market where the Fed has been the most concerned. While job growth in the United States picked up in August, wage growth moderated and the unemployment spiked to 3.8%.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.