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 warning does Powell give regarding inflation and interest rates?

What steps is the Federal Reserve taking to address inflation?