Fed Chairman Jerome Powell is set to address the state of the economy and inflation at the Thomas Laubach Study Conference on Friday morning. Reports show that consumer prices have increased by 0.4% in the past month, resulting in an annualized rate of 4.9%. Despite this, the inflation rate remains the lowest it has been since April 2021.
The Federal Reserve has been raising interest rates to control inflation, resulting in a consistent drop in inflation. However, a Gallup poll conducted recently revealed that 61% of respondents found that recent price increases had caused moderate or severe economic hardship. These results are 6 percentage points higher than responses from November.
The study showed that 15% of those surveyed found the current economic difficulty to be severe. The Fifth Circuit Court of Appeals will hear a case regarding an Abortion Drug Lawsuit, and the FBI Whistleblower will testify before the House Use of Weapons Committee. The event will begin at 11:00 AM ET, and live video feeds will be available online.
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