The Federal Reserve is aware of the pain that spiraling prices are causing Americans. At the recent Jackson Hole Economic Symposium, Fed Chair Jerome Powell said bringing inflation down “will also bring some pain to households and businesses.” But what the nation’s central bankers are hesitant to discuss is what they would define as success in their fight against inflation and, in turn, when they might be willing to cease hiking interest rates. Clearly, the Fed still has work to do. The latest inflation report showed that the prices of consumer goods and services were 8.3% higher, on average, year-over-year in ... (full story)