Inflation Eases As Consumer Prices Rise 6.3% In July, Down From June

The transcript discusses the current state of inflation in the country, highlighting that the rate is cooling off. New data from the Commerce Department shows a slight drop in consumer prices and a modest gain in personal incomes, with strong wage growth remaining steady. Federal Reserve Chairman Jerome Powell acknowledges these positive indicators but warns that inflation is still too high. The Federal Reserve plans to take forceful steps to moderate demand and align it with supply to keep inflation expectations anchored.

What recent change in consumer prices was reported by the Commerce Department?

• A 1% decrease from June to July

• No change from June to July

• A 0.1% increase from June to July

• A 0.1% decrease from June to July

Which of the following was NOT mentioned as a positive economic indicator?

• Decrease in consumer prices

• Increase in personal incomes

• Strong wage growth

• Decrease in unemployment rate

Where did Jerome Powell discuss the economic indicators and inflation?

• Commerce Department

• New York Stock Exchange

• Federal Reserve headquarters

• Jackson Hole, Wyoming

What is the Federal Reserve's approach to managing inflation?

• Increasing supply to meet demand

• Reducing interest rates

• Moderating demand to align with supply

• Eliminating inflation expectations

What is the Federal Reserve's commitment regarding inflation control?

• To increase efforts only if demand increases

• To continue efforts until confident the job is done

• To stop efforts once inflation decreases slightly

• To reduce efforts if inflation expectations rise