US INFLATION EASING AND JOB MARKET SIMILAR TO PRE-PANDEMIC CONDITIONS

Inflation is easing and the job market has returned to the "tight but not overheated" situation seen before the COVID-19 pandemic threw the U.S. economy into disarray, the Federal Reserve said on Friday.

"Inflation eased notably last year and has shown modest further progress so far this year," the Fed said, noting that in the key area of housing services it is likely just a matter of time before the pace of price increases settles back to where it was before the health crisis.

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