For the past year, the European Central Bank has raised interest rates at every one of its policy meetings in an effort to rein in high inflation. Powell, the Fed chair, suggested that even though there had been progress in the United States on sustainably bringing inflation down, interest rates had not been at restrictive levels long enough and that the central bank was prepared to raise rates again if needed. Europeans should see that progress is being made on inflation and that it has fallen from a peak of 10