The Fed, led by Chair Jerome Powell, has repeatedly expressed its belief that inflation will prove temporary as supply bottlenecks are unclogged and parts and goods flow normally again. But some economists have expressed concern.
Consumer prices jumped in May, the biggest year-over-year spike since 2008 pressherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pressherald.com Daily Mail and Mail on Sunday newspapers.
Consumer prices surged 0.6% in May and 5% from a year earlier, the fastest annual rise in 13 years. The jump is squeezing consumers as the economy reopens.
Prices continue to soar in May - Southern Standard southernstandard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from southernstandard.com Daily Mail and Mail on Sunday newspapers.
The increased consumer appetite is bumping up against a shortage of components, from lumber and steel to chemicals and semiconductors, that supply such key.