Fed will remain on hold despite inflation and strong labor market

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The Federal Reserve will remain on hold with interest rate hikes, despite persistent triple-digit crude oil prices driving up costs across various sectors and a strong labor market, because younger and lower-income cohorts are already experiencing significant economic pain and disproportionately feeling the inflation shock, even before the energy shock. Additionally, inflation-adjusted government programs like Social Security and Medicare contribute to the deficit and add pressure to the long en