How much power does the Fed really have?

Another month, another PCE report that put annual core inflation meaningfully above the Fed’s 2% target. The central bank has been fighting high inflation for more than five years now. At a certain point, you might start to wonder, does the Fed even have the power to fix it? Also in this episode: Consumer confidence falls, transportation durable goods orders tick up, and Arizona’s Great Recession-era bid to save the state budget offers insight into how AI might change our tax structure.

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Read the stories in today’s episode:

• Inflation is stuck above 2%. Can the Fed really do anything about it?
• Consumers are pessimistic about the next six months
• How Arizona's "Capitol-ism" points to a potential tax fix for the AI age
• What's driving an increase in orders for transportation equipment?
• Running a historic motel off Route 66 is no easy pursuit
• The Gila River Indian Community "walks the walk" on water conservation