But one factor that Federal Reserve Chair Jerome Powell said might keep inflation high is a tight market for available workers.
The Federal Reserve is expected to issue another interest rate hike on Wednesday as data from the Bureau of Labor Statistics shows that inflation is starting to ease.
The Federal Reserve has said its goal is to get inflation back to 2% annually. As of new data released yesterday, inflation stands at 7.1%, which is down from a peak of 9.1% earlier this year.
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