A new British pressure group is calling for the UK’s central bank to “lose the power to create unlimited amounts of money out of thin air.”
Inflation has eased in many areas that had temporary spikes, from airfares to used cars. Persistent, underlying inflation is harder to tackle.
The consumer price index hit 6.2% in October. Treasury chief Yellen says the price hikes won’t last, but they’re felt across the economy.
Treasury Secretary Janet Yellen says inflation should ease by next year, but anxiety about that is still running high.