The recent decision by the Federal Reserve to approve a half-point interest rate hike is an anticlimactic development. The increase matched predictions, but it does little to address the real issue at hand: inflation is not going down by any meaningful degree for the average American.
The change in the interest rate is a shift for the central bank, coming after an unprecedented year of seven consecutive rate hikes. The latest rate hike pulls the Fed back from three consecutive 0.75% increases, signaling confidence that the central bank can bring sky-high inflation down to normal levels.
Sure, the consumer price index went
