Change

June 01, 2021

As our nation continues to recover from the effects of COVID-19, one economic trend has been capturing news attention as of late. Consumer prices are rising amidst economic recovery. In fact, the Consumer Price Index (CPI) rose 0.8% in April 2021, jumping by a greater-than-expected 4.2% year-over-year.¹

With upward trending prices, an important question arises - Is the Federal Reserve ahead or behind in its monetary policy regarding inflation? Federal Reserve Chair Jerome Powell has said it could be a mistake to see inflation as a guest long overstaying its welcome.

“One-time increases in prices are likely to only have transitory effects on inflation,” Powell said. He added, “It will take some time before we see substantial further progress.”²

How to Know When Inflation Is Here to Stay

Keep an eye on skills shortages, consumers’ wallets and the market’s expectations.

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Robust Spending Likely Propelling Economy to Stronger Growth

Americans likely extended a spending binge in April as they caught up on activities they held off on during the pandemic.

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Ohio woman claims state's first $1M vaccine jackpot; 10 states reach Biden's vaccination goal: Live COVID-19 updates

Ten states, mostly in the Northeast, have reached a goal to vaccinate at least 70% of adults with at least one dose by July...

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^{1. CNBC, May 12, 2021}
^{2. CNBC.com, April 28, 2021}