and he admitted that the fed may need to do more to fix that. the fed has already done a lot, spiking the pace the fattest in four decades. that s catapulted mortgage rates to 42-year highs, credit cards to record-highs. powell said this inflation-fighting medicine has yet to be felt. he s dropped hints he s not satisfied. he threw cold water on the recent inflation cooldown, arguing that this process is just beginning. he also noted gdp and consumer spending have been hotter than anticipated and the housing market is showing signs of a rebound. powell warned all of this combined with a strong jobs market could undo some of the inflation progress. so given all that, what does the fed do next? well, powell conceded there is considerable uncertainty on that front. listen to what he said. we can t yet know the extent
According to AAA, gas prices are dropping and the Consumer Price Index shows inflation is stabilizing. However, finance experts tell WPTV not to get too comfortable just yet.