Isn't inflation already cooling, though? Like, why more? And they're saying possible even MORE rate hikes in the next year?
Inflation is still 2.5x the target rate. Although it stopped increasing more.
There is a lot of work to do to get back to 3% inflation.
Core CPI was up 0.2% MoM. That’s just over 2% annualized.
I think the Fed wants to taper the rate increases to reduce volatility in the market. If they announced a halt to rate increases then there would be a massive upswing in the market and inflation could potentially increase again.