Federal Reserve officials were concerned at their meeting last month that consumers were increasingly anticipating higher inflation, and they signaled that much higher interest rates could be neede…
that consumers were increasingly anticipating higher inflation, and they signaled that much higher interest rates could be needed to restrain it. released Wednesday, that their rate hikes could weaken the economy. But they suggested that such steps were necessary to slow price increases back to the Fed’s 2% annual target.
, spreading to more areas of the economy. Americans are also starting to expect high inflation to last longer than they had before — a sentiment that could embed an inflationary psychology and make it harder to slow price increases.
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