Inflation outstripped forecasts and surged above 4 per cent last month to hit its highest level in almost a decade as spiralling energy prices pushed up the cost of living.
President Joe Biden said on Wednesday that most Americans cannot understand the problems faced by the United States' supply chains, adding that 'not a lot of people' have a clear grasp of the networks and their implications.
The United States is likely to see greater inflation risks from record-high housing prices as demand continues to outstrip the number of newly-built homes while bottlenecks in supply chains slow construction, Federal Reserve Governor Michelle Bowman said on Monday.
Advocates for vaccine mandates—led by the Biden Administration—are apparently unconcerned that the mandates are likely to drive down total employment and reduce access to government services.