US inflation surges again in June, raising risks for economy

with nearly half of the increase due to higher energy costs.

Accelerating inflation is a vexing problem for the Federal Reserve, too. The Fed is already engaged in the fastest series of interest rate hikes in three decades, which it hopes will cool inflation by tamping down borrowing and spending by consumers and businesses., and many analysts believe the trend continued in the second quarter.

After years of low prices, a swift rebound from the 2020 pandemic recession — combined with supply-chain snags — ignited inflation.Consumers unleashed a wave of pent-up spending, spurred by vast federal aid, ultra-low borrowing costs and savings they had built up while hunkering down. As home-bound Americans spent heavily on furniture, appliances and exercise equipment,and prices for goods soared. Russia’s war against Ukraine further magnified energy and food prices.

Shipping costs and commodity prices have also begun to fall, and pay increases have slowed. Surveys show that Americans' expectations for inflation over the long run have eased — a trend that often points to more moderate price increases over time. “There may be some relief in the July numbers — commodity prices have come off the boil, at least — but we are a very, very long way from inflation normalizing, and there is no tangible sign of downward momentum,” said Eric Winograd, an economist at asset manager AllianceBernstein.Delores Bledsoe, a truck driver hauling freight from Carlisle, Pennsylvania to Wisconsin on Wednesday, said her fuel costs have tripled.

😂😂😂

Let's Go Brandon

All Joe Biden’s fault. 100% Joe Biden’s fault. No doubt, all Joe Biden’s fault.

Only humans create a mess like this so only humans can fix it there's no excuse to what else causes it so when you're house gets dirty you clean it up you don't use excuses OK so let's wake up and clean our own mess up plain and simple

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US inflation surges again in June, raising risks for economySurging prices for gas, food and rent catapulted U.S. inflation to a new four-decade peak in June, further pressuring households and likely sealing the case for another large interest rate hike by the Federal Reserve Thanks Biden.. yes it's his fault
Source: WOKVNews - 🏆 247. / 63 Read more »

US inflation reached a new 40-year high in June of 9.1%Surging prices for gas, food and rent catapulted U.S. inflation to a new four-decade peak in June, further pressuring households and likely sealing the case for another large interest rate hike by the Federal Reserve, with higher borrowing costs to follow. LetsGoBrandon Thanks POTUS But according to the leftist propaganda machine (looking at you KSL) Jan. 6th is more important. Smh…
Source: KSLcom - 🏆 549. / 51 Read more »

US inflation reaches 9.1% in June, a new 40-year highSurging prices for gas, food and rent catapulted U.S. inflation to a new four-decade peak in June, further pressuring households and likely sealing the case for another large interest rate hike.
Source: ladailynews - 🏆 332. / 59 Read more »

US Inflation Reached a New 40-year High in June of 9.1%Surging prices for gas, food and rent catapulted U.S. inflation to a new four-decade peak in June, further pressuring households and likely sealing the case for another large interest rate hike by the Federal Reserve Please stop using photos of the most expensive gas stations on the planet to go along with your 'news' stories. Average gas prices right now are a full three dollars a gallon less than in your image; you are intentionally misleading your readers to get more clicks.
Source: NBCNewYork - 🏆 270. / 63 Read more »