on the way in the us, even though the federal reserve opted to leave the cost of borrowing unchanged at its meeting last week, fed chairjerome powell has been giving his twice yearly testimony before congress. he told lawmakers the fight against inflation has a long way to go . samira hussain reports america s central bank has two main objectives maximum employment and price stability. and it s that latter objective that remains elusive. the federal reserve likes to keep inflation hovering around 2%. right now, it sits somewhere around 1t%. and that s certainly better than where it was last year somewhere above 8.5% but it s still not good enough. and it s why the fed chair, jerome powell, has said more interest rate hikes seem pretty likely. in may, the 12 month change in the cpi came in at lt.0%, and the change in the core cpi was 5.3%. inflation has moderated somewhat since the middle of last year. nonetheless, inflation pressures continue to run high,
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