inflation

“There are a lot of empty fields that aren’t being planted — something I’ve never seen before,” say Terranova Ranch’s Don Cameron.

Americans have a $860 billion credit card balance, according to the Federal Reserve Bank of New York.

For one thing, it’s not helpful in the fight against inflation.

Wages are rising fast, but not as fast as prices. When inflation expectations drive workers’ demands for higher pay, inflation can spiral out of control.

The Fed intensified its fight against the worst inflation in 40 years on Wednesday and signaled further large rate hikes to come.

Mortgage rates, for example, probably already have the Fed hikes built in.

The strategy is aimed at tightening credit and easing inflation. Purdue’s Cathy Zhang worries about the effects on financial markets.

In some sectors, like leisure and hospitality, workers have been quitting and changing jobs, allowing them move into higher-paid positions.

Wages are rising and benefits are getting better. Trouble is, inflation is outpacing pay.

For monetary officials, the personal consumption expenditures gauge beats the CPI. A trip to the grocery store helps explain why.