Wholesale inflation rose from 2.8% in October to 3.0% in November, according to the latest Bureau of Labor Statistics report. But where inflation is headed is as much about how consumers feel as it is about what wholesalers are paying.
Food prices in December were up 2.4% for the year — and if you go back five years, they’re up about 25%, according to the latest Consumer Price Index from the Bureau of Labor Statistics.
Analysts don’t know what legal authority — if any — President Donald Trump can use to compel banks to cap rates at 10%, but they do think there will be negative consequences for consumers.
“Marketplace” host Kai Ryssdal spoke to Alan Blinder, former Vice Chair of the Federal Reserve Board of Governors, about what the investigation might mean for the future of the Fed and monetary policy.