Inflation Is Way Down. Is It by Design or Just Luck?

<p>Rapid inflation has been a problem in the United States for more than two years, but the tide appears to be turning. Annual inflation is now less than half of what it was last summer.</p><p>Jeanna Smialek, who covers the Federal Reserve and the U.S. economy for The Times, discusses whether the decline is a result of careful policymaking, or more of a lucky accident.</p><p>Guest: <a href="https://www.nytimes.com/by/jeanna-smialek">Jeanna Smialek</a>, a Federal Reserve correspondent for The New York Times.</p><p>Background reading: </p><ul><li><a href="https://www.nytimes.com/live/2023/06/14/business/fed-interest-rates#inflation-is-coming-down-is-the-fed-winning-its-fight">Inflation is coming down. Is the Fed winning its fight?</a></li><li><a href="https://www.nytimes.com/live/2023/06/14/business/fed-interest-rates/how-to-read-the-feds-projections-like-a-pro">How to read the Fed’s projections like a pro.</a></li></ul><p>For more information on today’s episode, visit <a href="http://nytimes.com/thedaily?smid=pc-thedaily">nytimes.com/thedaily</a>. Transcripts of each episode will be made available by the next workday.</p>