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Fed officials project inflation to fall to around 2% in the long run. However, their estimates for inflation in 2023 and 2024 have ticked higher since September. The median projection for core inflation in 2023 rose to 3.5%, up from 3.1%.
Officials also expect unemployment next year to rise more than they did in September. The Fed's median projection for the unemployment rate is 4.6% for 2023 now, up from 4.4% in September.
In recent months U.S. inflation has broadly trended lower, despite remaining elevated in historical terms. Despite this, the Federal Reserve’s updated projections for December show that the majority of policymakers expected rates to exceed 5% in 2023. In contrast, the last time the Fed shared projections in September, no policy-maker saw rates exceeding 5% in 2023.
Should You Be Worried About DEFLATION? Yes...Here's Why
• Should You Be Worried About DEFLATION? Yes...
Think house prices are too high? The rental market is even worse — with no relief in sight
https://www.forbes.com/sites/simonmoo...
Canadians are angry over inflation and gas prices, a new study shows
• Canadians are angry over inflation and gas...
Young mum, 27, walked in front of train with daughter, 3, after struggling to pay rent and bills
Leighane Melsadie Redmond had slipped behind on rent, gas and electricity bills
https://www.voice-online.co.uk/news/u...
Millennials' life stage means they're suffering the most from rising prices
https://www.businessinsider.com/infla...
Current US Inflation Rates: 2000-2022
https://www.usinflationcalculator.com...
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