Today, On Deadline is looking at the wound that’s been festering on the American economy for the last two years: Inflation. The Federal Reserve Bank that sets key interest rates has made it clear that until inflation hits its 2% target, rates will stay where they are – which is currently a 23-year-high. There was hope the tide could be changing in 2024. That’s because 2023’s 11 straight rate hikes were expected to bring inflation down and many were also expecting the Fed to start hitting the breaks on them. Now, it seems like that might have been wishful thinking. 'On Deadline' is hosted and produced by Lauren Barry. It's also produced by Joe Hiti, Christy Strawser. Sound design by Joe Hiti.