Post-pandemic economy has "confounded all sorts of attempts to predict what it will do"
Has the connection between a vigorous job market and high inflation broken down?
``It would be very premature to declare victory," Powell says
A downshift in rate increases is fueling enthusiasm on Wall Street that hikes will soon stop
Prices up 5% year over year, consumer spending down 0.2% from November
However, interest rates must remain elevated "for some time," Brainard said
Mester's comments are notable because she is among the more consistently hawkish members
Prices down 0.1% month over month as cost of gas, used autos decline
The global lender slashed its forecast for global growth this year by nearly half to just 1.7%
U.S. unemployment at 53-year low of 3.5%, wage growth at 4.6% in December