Inflation Stuck at High Levels Despite Rate Hikes, Threatening 'Soft Landing' for Economy

• Inflation has stalled at 3-4% for 8 straight months, remaining elevated despite Fed interest rate hikes • Shelter costs like rent have defied forecasts and continue rising over 6% annually • Strong economic fundamentals like jobs and consumer demand make a "soft landing" unlikely
• Real wages have barely kept pace with inflation, leaving workers worse off • Experts believe above-target inflation may persist indefinitely due to geopolitical tensions and ongoing federal deficits