Year-over-year inflation slowed to 7.1% in November, down from 7.7% in October and a peak of 9.1% in June—signaling that the Federal Reserve’s interest rate hikes are slowing the overheated economy.
But as the Fed raises interest rates—six times this year, with another expected to be announced this week—several economists and investors argue that the central bank’s aggressive attempt to lower inflation is pushing the economy into a recession.
