American Voters Are Smarter Than the Fed

When it comes to inflation our central bank can’t fool all of the voters all of the time.

AP/Ben Curtis
The Federal Reserve chairman, Jerome Powell, at Washington, September 18, 2024. AP/Ben Curtis

If the Federal Reserve is convinced that it has “conquered inflation after three long years,” as the Associated Press reports, voters aren’t so sure. That’s the upshot of a new poll showing that Americans, “bruised by an inflation rate that hit a four-decade high two years ago,” aren’t as sanguine as the sages of the central bank about the economy. That’s largely because even if the rate of inflation has slowed, the cumulative effect of the price increases is what rankles.

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