The rising cost of groceries and gas is fueling the fastest increase in consumer prices in 40 years and widening the inflation gap between the rich and poor.
Until recently the Federal Reserve had been purchasing roughly $120 billion of assets every month to support the US economy. The Fed began scaling back those purchases in November and doubled the pace on Dec. 15.
Inflation rates are rising around the world due to pandemic-related pressures. What does it mean for the federal government in the months and years ahead? The throne speech didn’t offer many clues.
Food inflation figures in Nigeria give cause for concern. Accusing fingers are pointed at rising dollars, farmers and middlemen, but this expert says the can may have been placed on the wrong heads.
After weeks of mulling, Biden decided to give Powell another term as Fed chair, which means he will have more influence over the trajectory of inflation than anyone else.
True wages growth, and true price growth, is probably less than the official figures suggest – meaning there’s no need for alarm about inflation in Australia.
Peter Martin, Crawford School of Public Policy, Australian National University
The 55 leading economists surveyed by the Economic Society see few signs of Australia aping the US, where inflation has surged to its highest level in 30 years.