Policy makers have signaled plans to dial back the pace of interest-rate increases, while warning rates could rise to somewhat higher-than-anticipated levels next year
In 2021, officials thought that high inflation would be temporary. But a year later, it was still near a four-decade high. WSJ’s Jon Hilsenrath explains three factors that have kept inflation up for longer than expected. Illustration: Jacob ReynoldsWASHINGTON—Most Federal Reserve officials thought they should slow the pace of interest-rate increases afterOfficials approved the latest super-sized rate increase at their Nov. 1-2 meeting, bringing their benchmark rate to a range between 3.
Fed's rate hikes will continue, but the marginal increases will be lower.
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