hovering around 2%. right now, it sits somewhere around 4%. that s certainly better than where it was last year. somewhere above 8.5%. but it is 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 4.0% 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 and the process of getting inflation back down to 2% has a long way to go. the theory is by making it more expensive to borrow money it should cool off the economy. and ten rate hikes later, that tactic seems to be working. of course, the danger is the us economy could fall into a recession. those hawkish comments by mr powell had certainly weighed on investor minds. the nikki index is trading flat as japanese investors look at what happened on wall street overnight aftermarket sales for a third straight on
court. jericka: record temperatures in texas as much of the state remains under heat warnings. it s been summer for too long we have already had too much of it and not to break insight. jericka: new details, investigators say dna evidence connect the man accused of murdering four students at the university of idaho to the crime scene. chicken meat grown in a lab has been cleared to sell in the u.s. supporters hope it catches on saying it could help fight climate change. jericka: on this first day of summer, how to protect your skin from the sun s dangerous rays. what you need to know. use sunscreen to protect yourself and get checked. cbs news, come on down. back state of the price right with the story of the end of an era for the legendary show. on the last one to host the price is right, i feel pretty good about that. jericka: good evening to our viewers in the west, thank you for joining us on this wednesday night. i m jericka duncan in for nora. we beg
remains elusive. the federal reserve likes to keep inflation hovering around 2%. right now it sits somewhere around 4%. that certainly better than where it was last year. somewhere above 8% for that but it is still not good enough. and it s why the fed chair jerome powell has said more interest rate hikes seem pretty likely. in interest rate hikes seem pretty likel . ., interest rate hikes seem pretty likel . . ., likely. in made the 12 month chance likely. in made the 12 month change in likely. in made the 12 month change in the likely. in made the 12 month change in the cpi likely. in made the 12 month change in the cpi came - likely. in made the 12 month change in the cpi came in i likely. in made the 12 month change in the cpi came in at| change in the cpi came in at 4-~0% change in the cpi came in at 4-~0%and change in the cpi came in at 4 .0% and the change in the core 4 .0% and the change in the core cpi 4 .0% and the change in the core cpi was 5.3%. in
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