This year, inflation reached its highest level in 40 years, prompting the Fed to hike interest rates aggressively. The Fed’s hawkish stance is finally bearing results as inflation cooled considerably in the last two months.
Fed Chair Jerome Powell said, “Inflation data received so far for October, and November show a welcome reduction in the monthly pace of price increases. But it will take substantially more evidence to have confidence that inflation is on a sustained downward path.”
