Inflation took its first significant drop since the Biden administration took the reins. Does that mean the Feds persistent rate hikes finally did what they intended to do? According to, well, pretty much everyone, not so much. Unless those rates hikes were meant to push mortgage rates much higher, make car loans more difficult to obtain, send credit card rates and consumer goods like groceries through the roof, tank stocks and retirement funds, and send the economy into a near recession. In that case, they succeed spectacularly.

From USA Today:

Inflation is finally falling sharply. But the Fed shouldn't take credit, experts say