Federal Reserve officials rolled out strong language Friday to describe their approach to inflation, promising a full-fledged effort to restore price stability.
Federal Reserve Chairman Jerome Powell on Friday reiterated the central bank's commitment to bringing down inflation.
The three biggest inputs for the consumer price index, the most widely followed measure of inflation, are food, energy and shelter.
The trouble is, the Fed's likely to get a recession anyway as data shows the economy is a far cry from stable.
The Federal Reserve suddenly finds itself second-guessed as it tries to navigate the economy through inflation and away from recession.
Talk of a recession has accelerated this year as inflation remains high and the Federal Reserve takes aggressive steps to counter.
Inflation has been pushing prices higher, and shoppers are feeling the pressure as they pay more for goods like groceries and gas.
Advance retail and food service spending fell 0.3% for the month, below the Dow Jones estimate for a 0.1% gain.
Sharply rising interest rates are decimating refinance volume, and those rates, along with sky-high home prices, are hitting demand from buyers.