The Atlanta Fed’s survey of business inflation expectations figure held steady at 2.2% in November, same as the prior month. For comparison, the consumer price index is up 2.6% over the last year.
But prices spiked in the pandemic, and the annual inflation rate reached a 40-year high of 9.1% in mid-2022. The Fed stepped in, raising interest rates dramatically in 2022 and 2023 to cool the ...