Target to cut prices on 3,000 items as inflation remains above Fed target

As the U.S. enters its fifth year of inflation running above the Federal Reserve’s 2% target, major retailers are responding to softer demand and increased competitive pressure.

With consumer sentiment in 2026 divided and the cost of living remaining a top concern among Americans, Target announced Wednesday that it will reduce prices on more than 3,000 items.

"Busy families are thinking about value as they begin to update their homes and wardrobes for spring," , Cara Sylvester, Target’s...