Federal Reserve continues to be on alert about inflation
August 17th , The U.S. economy continues to show strength despite many predicting a major economic Slowdown with the Atlantic Fed projecting a nearly 6% growth in GDP during the third quarter.
Despite this, inflation continues to be a cause of concern, and Federal Reserve officials anticipate a continued risk from persistent inflation that may require additional rate hikes.
According to a meeting last month from July 25-26th, officials believed that high inflation could require additional interest rate hikes to bring it down to the target despite cooling considerably from a record high 9.1%. Currently the inflation rate is 3.2%, which is still above the 2% objective.