Thursday, September 23rd 2021
WASHINGTON (SBG) — The Federal Reserve signaled concerns about rising inflation Wednesday, after months of downplaying the risks.
The Fed adjusted its core inflation projection up to 3.7% from 3% in June. Factoring in the rising costs of food and energy, the central bank projected overall inflation could hit 4.2% this year. …
Americans are staring down the twin barrels of higher prices and wages that are not keeping pace with inflation.
“Some of the gains we had seen for workers in certain categories, the increases looked good, but not if you have 5% inflation,” said Jim Butkiewicz, an economist at the University of Delaware. …
