What are the people with state-of-the-art info saying about the fight to quell inflation?

I'm David Brancaccio in New York. Good morning to you. So is the Federal Reserve done raising interest rates?

The chair of the Boston Fed President

Susan Collins weighed in on that at a conference over the weekend. She also

spoke about the Fed's other job of what it calls maximum employment and how to get more people into the

labor force.

Marketplace is Nancy Marshall Genser was there and has this report.

There's the unemployment rate and then there are the people behind the number.

Economists at the Boston Fed's rethinking full employment conference mold over how to close

race-related gaps in the participation in order force. Now the Fed has been raising interest rates to cool the economy and push down inflation.

The thing is that can lead to layoffs, but Collins told me if the Fed can wrestle inflation down to its 2% target in the long run

will have a healthier labor market with more opportunities for marginalized

workers. That's what really provides the context in which we can see that prosperity and help to support different groups.

But Collins says inflation hasn't been vanquished yet, she says the Fed needs to keep interest rates high, quote, for some time, and she didn't take more rate hikes off the table.

I'm Nancy Marshall Genser for Marketplace.

Hard data from the U.S. Department of Agriculture, the cost of a Thanksgiving dinner for 10 people

will average $61.17 this year that's down, 4.5% from last year, but this year's lower average price is still 15% higher

than Thanksgiving 2021, which explains a lot about how we appraised today's

economy. What Thanksgiving week would be complete without inviting an

economist to the table? Julia Coronado is founder of macro policy perspectives.

Yeah, yeah, that's right. So that is a perfect illustration of why consumers are a feeling some relief which is great but also be still frustrated because the world they live in is more expensive than it was before the pandemics.

We economists cheer that inflation is coming down, but that's just the rate of change, David.

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