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inflation today. according to a commerce department report that s closely watched by the federal reserve, consumer prices rose less in july than they did in june. last month, they were up 6. 3%, compared to a year earlier. and that is down from the 6. 8% in june. but all of this is still far higher than where inflation needs to be. and trying to get a record inflation under control, while avoiding a recession is a hard thing to do. today, the federal reserve chair, jerome powell, issued a stark warning, that the feds plan to fight inflation is likely to cause, quote, some pain. while higher interest rates, slower growth, and a leading market conditions will bring down inflation, they will also bring something to households and businesses. these are the unfortunate costs of reducing inflation. but a failure to restore this would mean far greater pain. so, avoiding that far greater payments of potential small uptick in unemployment, and economic growth may slow down. borrowing cost w

Federal reserveCommerce department reportConsumer pricesEnd quoteInterest ratesFederal reserve chairMarket conditionsJerome powellBorrowing cost