Persistent inflation issues have continued to impact the nation, but recent data shows that the inflation rate improved slightly last month, dropping to 3.4% in April compared to the year prior. That’s a significant decline from what we saw from 2021 to 2023, when inflation climbed a cumulative 16.9%. However, today’s inflation rate is still higher than the Federal Reserve’s 2% target rate, which has resulted in the Fed keeping interest rates elevated in an effort to cool inflation. The agency indicated earlier in the year that it would likely reduce the federal funds rate in 2024, but for now, it remains at a 23-year hi…
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