Federal Reserve System – Page 10

Inflation Held Steady in September, While Consumers Spent Robustly

Overall inflation stayed at 3.4 percent in September, down from a peak of around 7 percent.

The rapid rise in interest rates in recent months has shaken investors and cast a cloud over the economy.

Everyone who relies on credit in America is confronting a new reality: Money will cost more for a good long while.

The Federal Reserve may need to do more if growth remains hot or if the labor market stops cooling, Jerome H. Powell said in a speech.

Pandemic stimulus, a strong job market and climbing stock and home prices boosted net worth at a record pace, Federal Reserve data showed.