The Fed still hasn’t defeated high inflation. Has it failed?

The Federal Reserve stepped in last month to safeguard America’s labor market, cutting rates by a quarter point to shore up a slowdown in hiring. But it has another equally important problem still to address — one that has driven up the cost of living in the United States and continues to strain lower- and middle-income households.

​ The Federal Reserve stepped in last month to safeguard America’s labor market, cutting rates by a quarter point to shore up a slowdown in hiring. But it has another equally important problem still to address — one that has driven up the cost of living in the United States and continues to strain lower- and middle-income households. Read More Breaking News, Latest News and Videos | CNN