US inflation hits 40-year high, putting pressure on Fed and Biden
US inflation hits 40-year high in May
This is a sign that rate pressure is increasing in the economy.
This will in all likelihood lead the Federal Reserve to aggressively increase interest rates.
will prompt the sequence to lengthen and the White House
and would provide political trouble for the Democrats.
Labor Department facts confirmed Friday that a broad-based
The Patron Rate Index in Advance rose 8.6% from a year earlier.
The widely viewed inflation gauge rose 1% from a month ago,
Which was on top of all estimates. of shelter, food and petrol
The biggest contribution has been
The so-called core CPI, which is an additional risk-averse
Removes food and electrical components,
0.6% from the previous month and 6% from a year ago, was also above forecasts.