Inflation may be rearing its ugly head in the US economy sooner than predicted.<br />According to Business Insider, a recovery of the US's hardest-hit businesses could drive a faster-than-expected rebound for inflation.<br />The US Federal Reserve aims to reach inflation of at least 2% before considering lifting its benchmark interest rate.<br />However, price growth has trended below that level for years and fell further at the start of the pandemic.<br />Kansas City Fed President Esther George said Tuesday that struggling industries could be placing outsized downward pressure on inflation.<br />She added that a swift economic reopening could see businesses in travel and hospitality could rapidly bounce back--thereby driving inflation higher.
