Bring some pain to households and businesses by Jerome Powell.

The Federal Reserve's main goal this year has been to reduce record inflation without starting a recession.

Despite the fact that there are currently indications that the high prices may be reducing.

Since the country recovered from the epidemic, the labour market in the United States has remained robust.

As of July 2018, the annual rate of inflation was 8.5%, down from a four-decade high of 9.1% in June.

After peaking at 8.5% in March, inflation decreased to 8.3% in April.

In July, there was a similar size increase.