Federal Reserve Projecting Inflation Will Remain ‘Uncomfortably High’

Minutes From Recent Meeting Suggest No Relief In Sight

  • At a July Federal Open Market Committee meeting, participants agreed inflation “would likely stay uncomfortably high for some time.”
  • They added that “in some product categories, the rate of price increase could well pick up further in the short run.”
  • The news comes in the wake of Biden signing the “Inflation Reduction Act,” a $740 billion bill.


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