Is the Fed Finally Serious About Inflation?

Until recently, the Federal Reserve wasn’t taking inflation seriously. Fed officials claimed to be serious about inflation. Fed Chair Jerome Powell said that price stability was essential and the Fed would do everything it could to restore it. Their actions, however, showed that Fed officials were not serious about solving this problem.

At their June meeting, the Federal Open Market Committee (FOMC) raised short-term interest rates by 0.75 percentage points and are expected to raise another 0.75 percent in late July. Are they finally getting serious about inflation?

Read Full Article »