New York Times: “The Fed has spent the past 15 months locked in an aggressive war against inflation, raising interest rates above 5 percent in an attempt to get price increases back down to a more normal pace. Last week its officials announced that they were skipping a rate increase in June, giving themselves more time to see how the already enacted changes are playing out across the economy.”
“But Mr. Powell emphasized that it was too early to declare victory in the battle against rapid price increases.”
