Business Highlights: Pressure On Powell, Hate On Facebook

Federal Reserve Chair Jerome Powell surely expected to have some breathing room after taking the first step this month to dial back the Feds emergency aid for the economy. Just a week later, though, the government reported that consumer prices grew over the previous 12 months by the most in three decades. The inflation spike has squeezed consumers, posed a threat to the Biden administration and intensified pressure on Powell to act. It all comes just as President Joe Biden is about to announce whether he will offer Powell a second fouryear term as Fed chair.

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