US Interest Rates Expected to Remain High Amid Ongoing Inflation Pressures

Interest rates in the US remain high, and economists are warning that they may stay this way for several months. The Federal Reserve Board's target is to bring inflation down to a level of two percent, but it has been above this mark for more than six years.

Economist Dr. Ernie Goss expects the Fed to hold steady on rates in the near future. He believes that while there will be some decrease in inflationary pressures, they will still remain around 3-4% year-over-year, which is considered too high by the Federal Reserve Board's standards.

Despite the challenges posed by higher interest rates and supply chain problems, regional manufacturing remains in positive territory. This suggests that while the economy may be facing some difficulties, it is not yet experiencing a downturn.