""The American voters have been exhausted of inflation,""
""There's no doubt that the president and the Republicans came to power on the back of frustration with inflation,""
Inflation has fallen from 9% in 2022 to 2.9% in the latest CPI report. Core PCE, the Federal Reserve's preferred inflation gauge, rose 2.9% in August, matching July's increase. Tariffs and other factors have kept inflation sticky, with expectations that inflation will remain in the mid-2% to 3% range next year, above the Fed's 2% target. High living costs were a significant factor in the 2024 election, contributing to Democratic losses and Republican gains in swing states. Affordability pressures, including elevated mortgage rates, have lowered public approval of economic management and raised concerns about political pressure on Fed independence.
Read at Fortune
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