“It’s a euphemism, but something the Fed takes very seriously,” said Diane Swonk, the chief economist at the accounting firm Grant Thornton. If the current surge in prices does not abate by early next year, and if both internal and external pressure to prioritize price stability takes precedence, then “patience may run out sooner than people think,” she said — and sooner than Mr. Powell, the Fed chair, would like.Hiring has seesawed this year along with the pandemic, especially in vulnerable sectors like hospitality and retail, where workers must be face-to-face with customers. Because many white-collar employees can work remotely, they have consistently fared better.I …
