by Tyler Durden
Friday, May 07, 2021 - 02:45 PM
From the gas pump to the grocery aisle, Americans have been suffering from "sticker shock" for the first time in years. While the Fed continues to insist that inflationary pressures will be "transitory", sell-side banks like Bank of America are raising the prospect of economically debilitating "stagflation". But even though President Biden on Friday refused to acknowledge the increasingly obvious role that expanded unemployment benefits are playing in keeping Americans out of the labor market, labor shortages are having a very real impact on firms that produce packaged food products and other consumer goods.