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What if the Federal Reserve Is Wrong About inflation?

Inflation

The big news from banks in the last few weeks was in their internal financial reporting that account balances continue to trend down for consumers.  Speculating on two things.  The first is that consumers have spent all or most of their COVID-19 relief money.  The second is that despite the lagging inflation warning information that the Fed is reviewing, consumer spending will slow down in the near future.  Signaling that the US economy could be close to slowing down despite the unemployment rates and consumer spending.