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confident inflationBoston Globe
•79% Informative
Federal Reserve Chair Jerome Powell said the economy is growing at a solid pace.
But inflation is slowing but prices remain extraordinarily elevated.
Housing costs are through the roof and affordability is in the cellar, he says.
Housing starts are running at about 1.4 million a year, fewer than in 1959 , when population was about half its current size.
Last week , Powell reiterated that the central bank won’t cut interest rates until it’s confident inflation is moving sustainably back to 2 percent , or layoffs accelerate to the point where the risk of a recession becomes unacceptable. The consensus on Wall Street is the Fed will whip inflation without a recession. But we will still be left with a staggeringly high cost of living. Correction: An earlier version of this story misspelled Annie Lowrey’s last name..
VR Score
83
Informative language
82
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38
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