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Surging gasoline and energy prices, as well as the cost of groceries, have pushed the forecast for the cost-of-living adjustment higher.
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US inflation jumps to 3.8% as energy costs surge from Iran war BBCCPI Report Live Updates: Inflation Accelerates After Weeks of War in Iran The New York Times'A miserable number': Iran war and AI spending drove inflation to a 3-year high FortuneConsumer prices rose 3.8% annually in April, the highest since May 2023 CNBCUS inflation rose to 3.8% in April, eroding Americans' paychecks CNN
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Trump readies for Beijing summit with Xi as AI chip sales, farm goods top agenda Fox BusinessHow the Iran war could weaken Trump in his strongman showdown with Xi CNNTrump heads to China for state visit. And, how the war in Iran has affected inflation NPRTrump and Xi appear intent on keeping deep differences over Iran war from overshadowing China summit AP News
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Kevin Warsh promised to remake the Federal Reserve. Stubborn inflation and a divided policy committee may force him to fight yesterday's battle first.
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