The economy has performed stronger than most anticipated and stronger than the Federal Reserve would have preferred, which suggests some unsustainability. Employment levels have been higher than what business conditions would typically support, presenting a mixed blessing. So, the question arises: are the Federal Reserve's rate hikes effective, and what factors are maintaining high inflation rates? Initially, goods inflation surged during the pandemic, peaking at over 9% year-over-year, but it has since moderated to around 3-4%, depending on the metrics used. However, this doesn't imply that prices are decreasing.
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