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The Inflation Reduction Act of 2022 (IRA) is a United States federal law which aims to reduce the federal government budget deficit, lower prescription drug prices, and invest in domestic energy production while promoting clean energy. It was passed by the 117th United States Congress and signed into law by President Joe Biden on August 16, 2022.
President-elect Donald Trump on Monday will sign a memorandum aimed at fighting inflation after he takes office that calls for an "all of government" response to bring down costs for Americans, an ...
The two inflation reports should enable Fed officials to lower interest rates in 2024, Bassuk said, paving the way for a so-called soft landing—when inflation fades without sparking a recession.
Powell's concern is a key reason why the Fed will likely cut short-term interest rates late this month for the first time in a decade: A rate cut — and especially if it's followed by others ...
The economists say firms with a lot of market power in consolidated industries can raise prices under the cover of inflation as a form of implicit cartel-like coordination. [68] European Central Bank economists found in May 2023 that businesses were using the surge as a rare opportunity to boost their profit margins, finding it was a bigger ...
Wednesday’s inflation readings were exactly what economists had anticipated: Consensus estimates called for a 0.2% monthly increase and for the annual rate to climb to 2.3%, according to FactSet.
Core CPI (blue) is less volatile than the full CPI-U (red), shown here as the annual percentage change, 1983–2021. A Core CPI index is a CPI that excludes goods with high price volatility, typically food and energy, so as to gauge a more underlying, widespread, or fundamental inflation that affects broader sets of items. More specifically ...
In 2022, the US saw inflation spike to levels not seen in four decades, and the Federal Reserve was in the throes of a historic rate-hiking campaign to cool it back down.