"If the current annual inflation rate is 7.9 percent, why do my bills seem like they're 10 percent higher than last year?"

Many of us ask ourselves that question, and it illustrates the importance of understanding how inflation is reported and how it can affect investments.

In February 2018, Jerome Powell was appointed as Chair of the Board of Governors of the Federal Reserve System. He became the 16th chair to take over the helm of the world’s most influential central bank. Among other duties, he and the Fed governors are tasked with adjusting short-term interest rates to help control inflation in an effort to promote overall economic growth