According to the Federal Reserve, for many years, inflation in the United States has run below the 2 percent goal. higher prices for essential items, such as food, gasoline, and shelter, add to the burdens faced by many families, especially those struggling with lost jobs and incomes. At the same time, inflation that is too low can weaken the economy. When inflation runs well below its desired level, households and businesses will come to expect this over time, pushing expectations for inflation in the future below the Federal Reserve’s longer-run inflation goal. This can pull actual inflation even lower, resulting in a cycle of ever-lower inflation and inflation expectations.

The fed argues that, If inflation expectations fall, interest rates would decline too. In turn, there would be less room to cut interest rates to boost employment during an economic downturn.

this economics explanation feels like gaslighting every time i hear the fed mention it. the reserve literally pushed negative rates and quantitative easing for so long that people came to expect prosperity as a feature of the economic framework of the nation, and now that we have rampant inflation that cannot be controlled by normal means (prime rate) the fed somehow wants us all to understand its our fault for enjoying affordable burger meat.

Gasoline prices are not higher. Above $4 was commonplace across the country 20 years ago. Now that only exists in high tax states and large metros. Gas is cheap in the US.

It's our fault for voting in people that can't manage a budget.

Eh don’t fully blame the fed. Ultimately it’s a constellation of external forces that drives the fed to lower the rates for so long.

Part of those external forces involves consumers in a major way.