Economists say more work needs to be done to bring inflation down
June 21, 2023
The current inflation rate is about half what it was last year, but it’s far from under control. The Federal Reserve Bank last week forecast core inflation growing at 3.9 percent, higher than its previous expectations of 3.6 percent. “Big picture: We are making progress, but the progress is slower than expected,” said Kristin J. Forbes, a Massachusetts Institute of Technology economist. “Inflation is somewhat more stubborn than we had hoped.”
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