Fed signals more aggressive steps to fight inflation

Federal Reserve officials are signaling that they will take a more aggressive approach to fighting high inflation in the coming months – actions that will make borrowing sharply more expensive for consumers and businesses and heighten risks to the economy.

Key inflation gauge hit 6.1% in January, highest since 1982

An inflation gauge that is closely monitored by the Federal Reserve jumped 6.1% in January compared with a year ago, the latest evidence that Americans are enduring sharp price increases that will likely worsen after Russia’s invasion of Ukraine.

US Inflation Highest In Nearly 40 Years

Under U.S. President Joe Biden’s watch, prices spiked a whopping 6.8 percent in November, compared with the same time last year, the fastest increase of inflation this nation saw in 39 years, the Federal Reserve revealed.

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