"in September, year-over-year inflation dropped to 2.4%, barely above the Fed’s 2% target and equal to its level in 2018... Fed officials have said they think high borrowing rates are no longer necessary.
"'The restriction was in place because inflation was elevated,' said Claudia Sahm, chief economist at New Century Advisors and a former Fed economist. 'Inflation is no longer elevated. The reason for the restriction is gone.'"
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