The battle against inflation could strike a major blow to the job market.
on Monday, if the Federal Reserve revises its inflation target to 3%, the economy would still need to slow down, resulting in a loss of about 1.7 million jobs.
That would cause the national unemployment rate to rise from 3.5% to 4.6%, and that, researchers said, is the best-case scenario.Last week, Fed Chairman Jerome Powell warned that not getting a tight grip on inflation could result in major financial problems in the future. The higher prices can cause stress for parents and for educators who want students to feel prepared and confident in the classroom.
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