Inflation Slowing but Prices Stay High; Public Outlook Worsening Despite Some Gains
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Inflation slowing but prices remain high compared to pre-pandemic levels.
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Public opinion on economy and inflation worsening despite some improvement.
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Biden and Fed facing low approval ratings on inflation and the economy.
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Once negative attitudes on the economy establish, they are hard to change.
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If inflation stays low, Fed may focus more on sustaining job market strength.