- Defense Secretary Lloyd Austin on Wednesday announced increased payments to help personnel cope with surging house rental prices
- ‘This is a readiness issue,’ he said after dire warnings of increasing inflation
- Last week, the Department of Labor said prices had risen 6.2 percent in past year
- The issue has emerged as a test for the Biden administration as it plans trillions of dollars in new spending
Federal Reserve Chairman Jerome Powell’s inflation dashboard is starting to show some signs of overheating.
From spreading price increases to rising wages, it’s signaling more caution on the inflation front than when Powell unveiled the benchmarks less than three months ago.
In a speech to the Fed’s annual Jackson Hole conference, held virtually in late August, Powell sketched out five ways of assessing the outlook for inflation and argued that each of them suggested there was no cause for alarm.