Prices remain elevated as Fed’s inflation fight takes a twist

close video Where should the Fed funds rate be to combat inflation?

Hoover Institution senior fellow John Taylor reacts to the Federal Reserve’s efforts to combat inflation on ‘Kudlow.’

Inflation remained uncomfortably high in February, although it has cooled slightly from a peak notched in 2022.

The Labor Department said Tuesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 0.4% in February from the previous month. Prices climbed 6% on an annual basis. 

Those figures were both in line with forecasts by Refinitiv economists.

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