Despite Strong Economic Performance, Wealth Inequality Rises and Federal Reserve Expected to Hold Interest Rates Steady

Inflation Stays Above Target Despite Indicators of Strong US Economy, Consumer Confidence Wanes Amid Rising Prices and Uncertain Economic Outlook.

Recent reports indicate that despite a strong labor market and reported wage growth, wealth inequality in the US is rising, with the top 10% of wage earners seeing significant income increases between 2019 and 2022.
Economic indicators, including a strong Employment Cost Index and a surge in retail investing, haven't alleviated concerns for many Americans. Consumer confidence has dropped for three consecutive months due to rising prices and economic uncertainty.
Despite indications of a strong economy, the Federal Reserve is expected to hold interest rates steady due to a combination of factors, including high bond yields, geopolitical tensions, an unstable housing market, and burgeoning federal debt.
High bond yields and soaring inflation, currently at 3.4% in September, keep concerns about the sustainability of the US economy alive, causing worries that the Federal Reserve might have to implement more measures to control inflation.
While consumer spending remains high, aiding economic growth, concerns over 'revenge spending' and its potential to fuel higher prices and inflation are on the rise. The Federal Reserve predicts the need for a slower economy to ease price pressures.