Svmuu News: Federal Reserve Chair Wash stated that the Fed’s top priority is to get monetary policy right—or as close to right as possible. If we choose the right policy, the surge in inflation over the past five years will become a thing of the past. My colleagues and I recognize that high inflation has been an undue burden on American households and businesses. From a longer-term perspective, underlying inflation is largely determined by monetary policy. We share a firm commitment to restoring price stability, which was the central focus of our June meeting.
The most striking feature of the current economy is business investment. Its rapid pace—which appears to be accelerating—largely reflects the construction of data centers and the massive demand for AI-related equipment and software to power them. (Jin Shi)