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is under way. it sets the stage for a wednesday decision on whether they ll hike interest rates, or leave them unchanged. our business correspondent erin delmore reports from new york. what do you get when you add strong consumer spending? a tightjob market and remarkable growth. you get a resilient economy, an economy that defied earlier predictions of a recession and one that s not buckling under the weight of the fed s interest rate hikes. see, raising interest rates is the fed s best tool to combat persistently high inflation, which consumers have seen reflected in higher prices for nearly everything. and while inflation has fallen by half from itsjune 2022 high of 7%, it s still higher than the fed s target of 2%. earlier this year, federal reserve policymakers hinted that they may hike interest rates once more before the year is out. they ll have a chance this week or at their last meeting in december, or they could not do it at all. investors and economists are p ....
see, raising interest rates is the fed s best tool to combat persistently high inflation, which consumers have seen reflected in higher prices for nearly everything. and while inflation has fallen by half from itsjune 2022 high of 7%, it s still higher than the fed s target of 2%. earlier this year, federal reserve policymakers hinted that they may hike interest rates once more before the year is out. they ll have a chance this week, or at their last meeting in december, or they could not do it at all. investors and economists are predicting that policymakers will skip a rate hike this week and, instead, hold rates steady, giving everything more time to work its way through the economy. we ll know the fed s next step on wednesday. one of the many things that have become more expensive for consumers is energy. oil prices have swung wildly over the last few years, due to the pandemic and the war in eastern europe. at one point, after russia invaded ukraine, prices rose to ....
I also went early in the year because care for the first time since the 1950s is back in europe because of vladimir putin s invasion of ukraine. i went to poland where we are supporting refugees and there is a fantastic program of using ukrainian women to teach in schools. there are all of these ukrainian kids. let s talk about food insecurity also known as hunger. we have seen the reality which is shipments out of ukraine have been disrupted because of the war. many of those shipments are intended for the continent of africa where there is enormous food insecurity, as you know. the growing danger of food insecurity combined without close of immigrants from africa into europe, talk about that specific problem. food insecurity problem and there is a refugee problem. ....
We have to do this with other leaders. our president has talked already two times already with him this week. i do want to ask about food insecurity. a lot of food comes from ukraine. tell me about this effort to combat that and how bad do you think the global food insecurity problem is going to become because of what we are seeing in ukraine? you re right. the russian invasion is a global crisis. it is a violation of all principals of the united nations. it is a threat against ukrainian people killed by the russian bombings but the whole world. and one important aspect is the food crisis, which is threatening many, many vulnerable countries in the world because ukraine is such an important producer of wheat. ....
you want noodles. forced tough choices in the checkoutline. what is it like? humiliating. not going to be the full fulfillment of a meal. staying on budget can mean the difference between fruits and vegetables swapped out for sugary cereals and processed food. more than 38 million people lived in food-insecure households. 6 million childrens lived in households in if which the children and food were food insecure. i recently spoke with award winning chef, social activist andrew zimmer and asked how covid exacerbated the food insecurity problem in the ....