Prices up 5% year over year, consumer spending down 0.2% from November
Sooner or later, someone has to blink
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
``We are not, and will not be, a 'climate policymaker,''' the Fed chair said at a conference
On a monthly basis, prices rose 0.1% in the U.S.
Central bank will either “break inflation” or “break the economy''
The Fed is expected Wednesday to raise its benchmark short-term rate for a seventh time this year
The monthly increase in consumer prices is the smallest since November 2021
A smaller December hike shouldn't be taken as a sign the Fed will let up on its inflation fight anytime soon
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