Jerome Powell, the head of the Fed, indicated today that he will keep raising interest rates to bring down inflation. He also pointed to the likelihood that these moves will inflict some amount of economic pain on consumers and businesses. The recessionary marks are sounding.
Even with some hopeful readings on inflation recently, this is likely nowhere near the end. Gas prices are coming down but rent and food costs remain high.
In light of all of this, we revisit where Americans are on inflation, who is being hurt the most by this, and what people are expecting from the future. CONTINUED
Clifford Young & Sarah Feldman, Ipsos
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