Americans aren't spending significantly more of their incomes on interest payments despite the Fed's rate increases, suggesting limited impact on spending or inflation.
Economists suggest that if current high rates are not curbing the economy, rates might need to stay elevated or even increase further.
Fed Chair Powell hinted at a possible rate increase, emphasizing the need for greater confidence in inflation returning to the target.
Dallas Fed President Logan mentioned it's too early to consider rate cuts, indicating uncertainty whether current rates can effectively control inflation.
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