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The Fed’s Preferred Inflation Gauge Sped Back Up - The New York Times
Source: nytimes.com
Article summary:
1. The Federal Reserve's preferred measure of inflation, the Personal Consumption Expenditures price index, unexpectedly rose 5.4% in January from a year earlier.
2. The Fed has been raising interest rates aggressively since last year in an effort to slow consumer demand and bring inflation back to its 2% goal.
3. Despite signs that the economy is cooling, consumer spending remains strong and could make it difficult for the Fed to bring inflation under control without more aggressive rate increases.
Article analysis:
The article is generally reliable and trustworthy, as it provides evidence for its claims with sources such as Bloomberg surveys of economists, other New York Times articles, and speeches by Federal Reserve officials. It also presents both sides of the issue fairly, noting President Biden's rosier view of the situation while also discussing potential risks associated with further rate increases.
However, there are some potential biases in the article that should be noted. For example, it does not explore any counterarguments or alternative solutions to the problem of high inflation beyond raising interest rates further. Additionally, it does not discuss any possible risks associated with keeping interest rates low or maintaining current levels of inflation for too long. Finally, while it does provide evidence for its claims from multiple sources, some of these sources are from other New York Times articles which may have their own biases or inaccuracies that could affect the accuracy of this article as well.