Prices keep going up for food, gas and other goods and American families are feeling the pain. At a forty year high, inflation has become a major worry for most households trying to make ends meet. According to a recent Pew poll, 70% of Americans say it’s the top problem facing the country. At the same time, stock and bond markets have fallen, and the Federal Reserve is raising interest rates. But still there are some good economic signs, like low unemployment and strong consumer spending.
This hour, we look the U.S. economy, what’s causing continuing inflation, and how to rein it in. And, we’ll look abroad at how the U.S. economy compares to other nations who also face increasing demand and supply chain disruptions from Covid-19 and the war in Ukraine. We’re joined by Financial Times columnist RANA FOROOHAR and New York Times Federal Reserve and economy reporter JEANNA SMIALEK.