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May 2021 Consumer Price Index Shows Fastest Inflation Since 2008

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The discussion could shape the path ahead for economic policy, helping to determine how much support President Biden has for infrastructure spending proposals and how patient the Fed can be in removing emergency monetary policy supports.“This is the largest year-over-year increase in prices since the Great Recession, and massive stimulus spending is a contributing factor,” Senator Mike Crapo, Republican of Idaho, wrote on Twitter. “Proposals for further federal spending, coupled with job-killing tax hikes, are not the remedy for economic recovery.”The White House has been focused on alleviating bottlenecks where it can, reviewing the supply chain for semiconductors …

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