Also, I find it interesting that the Governing Council of the European Central Bank (ECB) surprisingly decided to reduce its policy rates in November on the grounds that the inflation rate had declined by more than it expected, and that it revised the price outlook downward.
Many Americans remain frustrated and disappointed in their jobs and job prospects. For example, a large contingent of those working part time for economic reasons would like to be working full time. Nonetheless, we have to acknowledge that significant progress has been made. Inflation remains somewhat below the FOMC’s long-run goal of 2 percent, but it appears to be drifting upward.