Inflation Finally Slowing After Hitting Highs in 2022, Allowing Central Banks to Pause Rate Hikes
• Inflation in the US and Europe appears to finally be slowing after hitting multi-decade highs in 2022 • Central banks like the Federal Reserve and ECB are cautiously optimistic that the worst of inflation may be over • They signaled steady interest rates going forward after aggressive hiking cycles aimed at taming inflation • The US economy has proven resilient, with strong hiring and consumer spending despite high inflation • Declining inflation could aid President Biden politically if it continues falling through 2024