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“People are looking at the prices of things and freaking out,” Bob Costello said Feb. 20 at the 2025 Recruitment & Retention Conference in Nashville.

Bank of Canada officials acknowledged that the economic uncertainty created by a potential trade battle supported their decision to cut interest rates last month.

“We know that reducing policy restraint too fast or too much could hinder progress on inflation,” Powell said in prepared testimony for the Senate Banking Committee.

Among the options being floated if the Trump administration moves to strike EV incentives is a three-year wind down to allow more time for the companies to adjust their businesses.

Expected inflation five years ahead rose to 3% last month, the highest since May 2024, according to results of the New York Fed’s Survey of Consumer Expectations published Feb. 10.

WASHINGTON — An inflation gauge closely watched by the Federal Reserve rose slightly last month, the latest sign that some consumer prices remain stubbornly elevated.

In a statement, officials repeated that inflation remains “somewhat elevated” but removed a reference to it having made progress toward their 2% goal.

WASHINGTON — U.S. inflation accelerated last month as prices for gas, eggs and used cars rose, yet underlying price pressures also showed signs of easing.

The so-called core personal consumption expenditures price index, which excludes food and energy items, increased 0.1% from October and 2.8% from a year earlier.

While economists expect the Fed to lower rates on Dec. 18 for a third straight meeting, they are now penciling in just three more quarter-point cuts in 2025.