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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, ....
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%. inflation ha ....