Federal Reserve officials pushed back the date they expect inflation to descend to a 2% annual rate.
It was the fifth time since 2021 that the Federal Open Market Committee has extended the timeline to meet its inflation goal.
Although inflation has fallen from its 2022 peak, a return to the 2% target has proved elusive.
Victory in the Federal Reserve's war on inflation is just over two years away. Will it always be?
Officials at the Fed predicted inflation, as measured by the Personal Consumption Expenditures price index, will finally fall to the central bank's target of a 2% annual increase in 2029. That's later than the Federal Open Market Committee's projections in June.
#federal #open #target
It was the fifth time since 2021 that the Federal Open Market Committee has extended the timeline to meet its inflation goal.
Although inflation has fallen from its 2022 peak, a return to the 2% target has proved elusive.
Victory in the Federal Reserve's war on inflation is just over two years away. Will it always be?
Officials at the Fed predicted inflation, as measured by the Personal Consumption Expenditures price index, will finally fall to the central bank's target of a 2% annual increase in 2029. That's later than the Federal Open Market Committee's projections in June.
#federal #open #target
2 months ago
