Fed Chair Jerome Powell Insists Inflation Surge Is ‘Transitory’
By KEITH GRIFFITH
A period of high inflation in the United States may last longer than anticipated, two U.S. Federal Reserve officials admitted on Wednesday, just a day after Fed Chair Jerome Powell continued to play down soaring prices.
The admissions follow data showing inflation hit 5 percent in May, the highest annual rate since 2008, putting pressure on the Fed to raise interest rates and stop flooding the economy with money through bond purchases.
Click the link below to read the rest of this story.
Click here to get more news from the Bulldog
On the go, but don’t want to miss any Bulldog news? Go to the App Store and downloads apps for Bulldog Reports and The Bulldog Show to your Apple and Android mobile devices. It’s free!