Millions of Americans are living on the edge amid historically high inflation at the grocery store and petrol pump, but economists Al Jazeera spoke with say there is reason for hope – even if the trend is still moving in the wrong direction.
The consumer price index (CPI), a gauge of inflation, jumped 9.1 percent in June from a year earlier – the largest gain since 1981. All eyes are now on the Federal Reserve as it meets on Tuesday to discuss monetary policy: Can the United States’s central bank raise interest rates and increase the cost of capital in order to reduce demand, boost supply, and moderate prices without plunging the economy into a deep recession?
