Inflation drops to lowest levels since March 2021 as economy cools
7/12/23
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from The Washington Post,
7/12/23:
Wages are now rising faster than prices. The Federal Reserve isn’t ready to declare victory yet, because inflation isn’t consistently falling yet.
“This is the kind of mix you want to see, and want to see more of over the next few months. If it does, the pathway to 2 percent [inflation] for the Fed really does open up,” said Skanda Amarnath, executive director of Employ America, a liberal think tank pushing for the economy to run hot.
Paul Krugman of The New York Times asked yesterday: Dude, Where’s My Recession?
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