The Painful Path – The New York Times


Americans’ household finances are headed for a rough patch.

Consumer prices are climbing at the fastest pace since 1981, and given the breadth of today’s rapid inflation — which is showing up in costs as diverse as airfares and apartment rents — it is unlikely to fade fully on its own. The government’s efforts to wrestle it down will most likely prove painful for many working families.

The country’s main tool for fighting price increases is Federal Reserve policy. The Fed is trying…



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