Economics
What's Got U.S. Inflation So Depressed? Just Asking for the Fed
- Central bank officials aren’t sure when prices will pick up
- New research suggests there’s still labor slack in the U.S.
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The Federal Reserve has been tightening monetary policy since 2015 to keep inflation in check. Low unemployment would spur businesses to pay more and raise prices, the logic went, so it was important to head off economic overheating.
That conventional wisdom is looking a little shaky.