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WEKU
WEKU
Scott Horsley

5 takeaways from the front lines of the inflation fight

Price tags are displayed at a New York City supermarket on Dec. 14. Inflation has eased recently, but more evidence is needed to show that price increases are coming down in the long term, Fed Chair Powell said Wednesday. (YUKI IWAMURA/AFP via Getty Images)

Prices are still climbing much faster than Americans were used to before the pandemic, even though there are signs that the Federal Reserve's dramatic steps to slow down inflation may finally be working.

The central bank has made it clear it will do whatever it takes to bring inflation back down, and on Wednesday it raised interest rates for the seventh time in nine months.

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