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2 weeks ago

Consumers shouldn't expect prices to fall anytime soon, top economist warns

American consumers hoping for a swift end to years of inflationary pressures are facing a harsh reality check.While recent relief at the gas pump offered a temporary reprieve, corporate supply chain strains and the lingering effects of global trade and geopolitical shocks are expected to keep prices elevated for the foreseeable future. According to The Conference Board Chief Economist Dana M. Peterson, everyday Americans will continue to feel the squeeze at the grocery store, with the Federal Reserve's 2% inflation target remaining out of reach until at least 2028."I think that consumers are g...