Federal Reserve Chair Admits Concerns Amid 'Bidenomics'

By Bo Beard | May 31, 2024

Wholesale inflation

Federal Reserve Chairman Jerome Powell expressed concerns about effectively managing inflation during a bankers' conference in Amsterdam, coinciding with a significant 0.5 percent surge in wholesale prices in April. 

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The Producer Price Index tracks these fluctuations, reflecting selling prices by producers. CNBC linked the unexpected rise in wholesale inflation to "Bidenomics." 

Solid growth

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Powell highlighted the U.S. economy's strong performance, noting solid growth and positive trends in unemployment and inflation rates.