Fed will find it much harder to reduce inflation as a result of Americans' pandemic savings
0According to Wells Fargo, Americans still have a sizable amount of pandemic savings. That may make it more harder for the Federal Reserve to control rising inflation. Spending on goods and services increased, according to the most recent report on the Consumer Price Index. With an 8.2% rate in September, inflation has stubbornly clung to a four-decade high.
Source: https://markets.businessinsider.com/news/stocks/federal-reserve-meeting-decision-interest-rates-inflation-savings-wells-fargo-2022-11
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