The costs of some high-profile consumer goods have actually been falling. With its larger-than-usual half-point cut to its key interest rate last week, the Federal Reserve underscored its belief that it’s all but conquered inflation after three long years.The public at large? Not so much.Consumer surveys, including one released Friday by The Associated Press-NORC Center for Public Affairs Research, show that most Americans remain unhappy with the economy, still bruised by an inflation rate that hit a four-decade high two years ago as the economy rebounded from the pandemic recession.Yet in the view of some economists, the shift toward steadily lower borrowing rates could eventually boost consumer sentiment.
The Fed’s Rate Cut Not Cutting It For Consumers, Yet
Associated Press, Fast Company
Mon, 09/23/2024 - 9:15am
Topics: federal reserve the associated press-norc center public affairs research president donald trump biden-harris friday s ap vice president kamala harris june president joe biden s americans chair jerome powell august just painful but sofia baig coke states february sentiment republicans aaa in apartment list census bureau tisha deloney arlington virginia deloney december christopher waller cnbc fed the fed s ap friday americans i baig morning consult republican michigan waller consumers rate cut inflation prices years economy pandemic high year months costs people rose higher goods price economic average amount rising month half-point week noted cost economists faster political surveys stable outlook released poll remain september straight figures eventually cars target pre-pandemic view high-profile falling key survey university contrast administration stability income favorable coming adjustment incomes suggest typically feel caused measure definition sign figure smaller
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