Economics’ Jonathan Ernest weights in on the latest inflation data

What will the Fed do with the latest inflation numbers?

International Business TimesJonathan Ernest, assistant professor of economics at Weatherhead School of Management, weighed in on the latest inflation data. “Interest rates for borrowing to finance consumer purchases of everything from cars to housing will remain elevated as well,” Ernest said. “Prolonged high rates for borrowing through the second half of the year may hurt stocks, as any boost to the economy from lowering rates may be delayed until the Federal Reserve feels confident that inflation is approaching the 2% goal.”