Fed’s Jeffrey Schmid Warns Energy Prices Could Keep Inflation Elevated
The Federal Reserve (U.S. central bank) official said inflation is near 3% and progress toward the Fed’s 2% target has stalled, as markets increasingly expect interest rates to remain unchanged.
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Terms & Concepts
Inflation target: A central bank’s stated goal for the pace of price increases, used to guide monetary policy decisions.
Interest rates: The cost of borrowing set in part by central bank policy, influencing spending, investment, and broader financial conditions.
Federal Reserve: The U.S. central bank, responsible for setting monetary policy and seeking stable prices and maximum employment.