Summary
The Conference Board’s chief economist, Dana Peterson, warned that Americans should not expect prices to decline soon despite easing inflation. She said lingering effects from tariffs, geopolitical conflicts and supply chain pressures will keep costs elevated, making the Federal Reserve’s 2% inflation target unlikely to be met before 2028. Peterson expects inflation to cool gradually but remain high enough to strain household budgets. As a result, consumers are shifting spending away from discretionary purchases and expensive goods toward essentials and lower-cost alternatives. She added that businesses have limited room to cut prices because they continue to face higher operating costs.
Fox Business
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