Fed Chair Jerome Powell Insists Inflation Surge Is ‘Transitory’
By KEITH GRIFFITH
FOR DAILYMAIL.COM
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.
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