Officials are trying to understand why consumer spending, the job market and overall growth have not responded to the most aggressive interest rates in decades.
Officials are trying to understand why consumer spending, the job market and overall growth have not responded to the most aggressive interest rates in decades.
When consumer spending is very high, inflation continues to rise because there is not an increase in supply. (Consumers are spending more to effectively get almost the same amount of things as before).
This is, obviously, bad if unchecked.