Fed projects era of too-high inflation to last better part of a decade

Federal Reserve officials revealed at their meeting last week that they don’t think inflation will come back down to normal until 2029.

The Fed considers 2% inflation to be healthy, and inflation hasn’t been that low since February 2021. For years now, central bank officials have expressed confidence that they could return inflation to that target, but now, officials think that goal won’t even be reached until 2029, which would mark nearly a decade of unhealthy price growth.