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June 15, 2024 9:51 am

Experts say the economy is getting better, but consumers don’t feel that way. Here’s why.

Americans are still worried about their financial stability even as their recession fears lessen. High prices at the grocery store and consumers’ memories of their pre-pandemic budgets may be playing a role. Here’s what financial and economic experts have to say about what this week’s economic indicators tell us about people’s perception of the economy.

Federal Reserve declines to cut interest rates, saying it’s not clear inflation has slowed enough yet

Fed Chairman Jerome Powell said the Fed has a lack of sufficient data that inflation is slowing enough to justify taking the pressure off interest rates yet. The Fed started raising the federal funds rate in March 2022 to battle inflation and continued until the latter half of last year, when it decided to pause rates