Inflation and Interest Rate Hikes , Cornering Many U.S. Households.<br />On May 9, inflation data is expected <br />to strike a familiar note with people <br />living in the United States. .<br />NBC reports the data is expected to show that people in <br />the U.S. are feeling cornered by the increased cost <br />of goods and services amid the current economy.<br />According to the Labor Department, <br />March saw an annual increase in prices of 5%. .<br />NBC reports that Wall Street analysts <br />expect another 5% increase in April.<br />We’re in a robust <br />demand environment, Neil Dutta, Head of economic research <br />at Renaissance Macro Research group, via NBC.<br />And one reason for that is that <br />labor markets are very tight, Neil Dutta, Head of economic research <br />at Renaissance Macro Research group, via NBC.<br />NBC reports that recent job data shows that <br />the U.S. unemployment rate has dropped<br />back to a post-pandemic low of 3.4%.<br />Meanwhile, 10 straight interest rate hikes by <br />the Federal Reserve has brought key federal <br />funding rates to the highest level in over 15 years. .<br />Last week, while speaking at the central bank's <br />summer meeting, Fed Chair Jerome Powell <br />failed to rule out continued rate hikes in 2023.<br />Last week, while speaking at the central bank's <br />summer meeting, Fed Chair Jerome Powell <br />failed to rule out continued rate hikes in 2023.<br />Between the spikes in gasoline, <br />food and shelter prices, there has <br />been no shortage of sources of <br />aggravation associated with <br />inflation for many months now, Neil Dutta, Head of economic research <br />at Renaissance Macro Research group, via NBC.<br />Between the spikes in gasoline, <br />food and shelter prices, there has <br />been no shortage of sources of <br />aggravation associated with <br />inflation for many months now, Neil Dutta, Head of economic research <br />at Renaissance Macro Research group, via NBC
