The “transitory” inflation, as it has been called by the Federal Reserve officials, may stay around longer than expected, even with the Fed working to lower inflation through monetary policy.
In March, the Fed raised the target range from 0.25 percent to 0.5 percent, the first-rate increase since the end of 2018. Economists are anticipating up to eight rate increases this year, for an end goal of 1.9 percent.
