Federal Reserve chair Jerome Powell suggested that inflation hasn't slowed as expected in 2024.
Federal Reserve chair Jerome Powell on Tuesday suggested that inflation is proving stickier than expected and that monetary policy may need slightly more time to work its way through the economy to bring prices down to the central bank's target of 2 percent.
With close to 60 percent naming the economy as the most important issue in the country, suggestions that inflation may take longer to come down to a level that the Federal Reserve can begin to cut rates is unlikely to shift people's perceptions of the economy any time soon.Newsweek contacted the Biden campaign for comment via email on Tuesday.Policymakers had raised rates to their current two-decade high of 5.25 to 5.5 percent range to battle soaring inflation.
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