“That data is still going through stimulus, post-stimulus check volatility,” Mr. Goldberg said. But the central bank has also signaled that if price gains prove persistent or get out of control, it would act. Both bond purchases and low rates support asset prices, so markets have been on edge about the possibility of faster inflation that prompts the Fed to reduce its economic support. The index for inflation expectations over that longer time horizon came in at 3 percent, the highest since 2013. Politicians have been talking about price changes daily since an earlier and related inflation release — the Consumer Price Index report — showed that inflation picked up more than expected in April.

Source: New York Times May 28, 2021 12:49 UTC