Price hikes took a breather in July, fueling hopes that inflation has peaked
CNN
Rising inflation poses a growing challenge for the Federal Reserve, which has committed to reining in soaring prices while trying to avoid plunging the economy into a recession.
On a month-to-month basis, inflation was 0%, compared to the 1.3% increase in June. Prices began rising sharply in early 2021, with the rate of inflation almost doubling over the past year.
"I think inflation probably has peaked in year-over-year terms," said Bill Adams, chief economist at Comerica Bank.
Shafik said tenured professor Joseph Massad, who a day after the October 7 attack penned a piece online that labeled it “awesome,” had been “spoken to” by members of his department of Middle Eastern, South Asian and African Studies. Shafik walked back her on answer on his removal at committee chair, but then later confirmed he was under investigation for discriminatory remarks.