The economy still has some oomph despite everything that the Fed has done. And it's one of the reasons that in some pretty important categories, you really just haven't seen price increases come down much. Michael Zuckerman: We're seeing a situation where they know they have a little bit of ability to push up prices and they're doing that either to maintain or grow their profits.
Rapid inflation has been a problem in the United States for more than two years, but the tide appears to be turning. Annual inflation is now less than half of what it was last summer.
Jeanna Smialek, who covers the Federal Reserve and the U.S. economy for The Times, discusses whether the decline is a result of careful policymaking, or more of a lucky accident.
Guest: Jeanna Smialek, a Federal Reserve correspondent for The New York Times.
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