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Inflation Is Painful, But the Fed Shouldn’t Overreact – Discourse

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Inflation Is Painful, But the Fed Shouldn’t Overreact – Discourse

For the past several months, Americans have felt the pain of higher inflation as they spend more on items ranging from food to gasoline to used cars to housing. Many observers wonder whether the inflation is being caused by the Federal Reserve keeping interest rates low and buying up lots of government debt or by supply chain disruptions and other production bottlenecks caused by the COVID-19 pandemic. If it’s the former, then the Fed will need to tighten monetary policy to get inflation under control. If it’s the latter, though, the recent uptick in prices will dissipate on its o

NPR

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How a shortage of glass is helping drive inflation higher : NPR

Here's another unexpected example of how supply chains have been upended by the pandemic: Glass bottles used for everything from vinegar to pasta sauces are getting tied up in their own bottlenecks. That's driving prices higher, when you can get the bottles at all.

Just like many other industries struggling to secure supplies, producers of pasta sauce and high-end spirits are seeing the glass used in their humble containers tied up in massive cargo jams, and that's forcing them to either absorb the higher costs or pass them on to consumers.

I am no fan of glass, usually because it's heavy and I'm prone to break it. I try to get everything in paper or plastic (which I can burn), or at least metal cans that can be flattened and saved for the yearly trip to the recycling center. But it's just another problem with inflation that we are facing.

Another jump in prices tightens the squeeze on US consumers – syracuse.com

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Another jump in prices tightens the squeeze on US consumers – syracuse.com

Washington — American consumers absorbed another surge in prices in May — a 0.6% increase over April and 5% over the past year, the biggest 12-month inflation spike since 2008.

The May rise in consumer prices that the Labor Department reported Thursday reflected a range of goods and services now in growing demand as people increasingly shop, travel, dine out and attend entertainment events in a rapidly reopening economy.

NPR

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How The Price Of A Toyota Truck Helps Explain Surging Inflation : NPR

Prices for a lot of things are surging across the U.S., and John McConnell's recent car-shopping experience helps explain why.

McConnell, from Colorado Springs, Colo., was recently looking for a Toyota Tacoma to replace his two-year-old Nissan Altima and was shocked to see the one he wanted priced several thousand dollars above the sticker price.

He plans to buy it anyway.

"I'm not going through a midlife crisis. I just kind of have an itch for this," McConnell says. "I'm willing to pay a little bit more right now, I guess, because right now I can afford to."

After a year of the coronavirus pandemic, McConnell was itching to go camping more and do more outdoor activities. And like many Americans who were able to continue working through the pandemic, he had the money.