Inflation at 40-year High, Rates Could Rise: Labor Report

Originally published on January 12, 2022, by Lucia Mutikani for

U.S. consumer prices increased solidly in December as rental accommodation and used cars maintained their strong gains, culminating in the largest annual rise in inflation in nearly four decades, which bolstered expectations that the Federal Reserve will start raising interest rates as early as March.

The report from the Labor Department on Wednesday followed on the heels of data last Friday showing that the labor market was at or near maximum employment.

Fed Chair Jerome Powell on Tuesday said the U.S. central bank stood ready to do what was necessary to keep high inflation from becoming "entrenched," in testimony during his nomination hearing before the Senate Banking Committee for a second four-year term as head of the bank.

Read More
Share this post:

Comments on "Inflation at 40-year High, Rates Could Rise: Labor Report"

Comments 0-5 of 0

Please login to comment