US September Inflation at 3.7%; Cleveland Fed's Hammack Warns High Prices Are Becoming Normalized
JH Kim
Summary
- The U.S. inflation rate for September came in at 3.7%.
- Hammack warned that consumers are accepting high inflation as an everyday phenomenon.
- She emphasized that prolonged inflation is affecting consumers' perception of prices.
Forecast Trend Report by Period
U.S. inflation stood at 3.7% in September, as Cleveland Federal Reserve President Beth Hammack warned that consumers are beginning to accept high inflation as a normal part of everyday life.
Cointelegraph reported on October 14 that the U.S. inflation rate was 3.7% in September. Hammack expressed concern about how consumers are perceiving inflation.
She said consumers are gradually coming to regard high inflation as "a natural part of life."
Hammack also emphasized that persistently high inflation is shaping how consumers perceive prices.
JH Kim
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