Financial Technology

Seven Cost-Saving Ways Americans Can Beat Inflation in 2022

Americans looking for relief from inflation got some bad news from Federal Reserve Chair Jerome Powell this week.

Speaking at a Federal Reserve conference in Jackson Hole, Wyoming, Powell told attendees the fight to reduce record inflation (which stands at a 40-year high) requires a steady diet of higher interest rates, which Powell believes will eventually tamp inflation down.

That process could take a while, Powell noted.

“Restoring price stability will take some time and requires using our tools forcefully to bring demand and supply into better balance,” Powell said in a speech on Friday. “While higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses.”

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