Fed, Inflation and interest rates
Digest more
The recent surge in inflation is likely to get worse over the next several months, according to a survey Friday.
There were some encouraging economic developments this week that millions of Americans likely warmly welcomed. The unemployment rate in January, for example, declined to 4.3% as employers added more than 100,000 jobs, a Wednesday report revealed.
The U.S. Federal Reserve will avoid cutting interest rates this year, according to most economists polled by Reuters who largely pushed long-held calls for reductions into next year on hopes the current inflation flare-up is temporary.
Inflation is a gradual loss of purchasing power that is reflected in a broad rise in prices for goods and services over time. The inflation rate is calculated as the average price increase of a basket of selected goods and services over one year.
Explore current mortgage rates and what they mean for home buyers