Consumer prices spiked in April, growing at fastest pace in more than 12 years

[WHITT]

5. Two Things

1) A lot of this is transitory.

2) Both Powell, the Chairman of the Fed, and Yellen, the Treasury Secretary and former Chairman of the Fed, are on the record saying they're willing to allow inflation to run somewhat above 'normal' for an extended period of time to allow the national economy to fully recover. They can always ramp-up rates if necessary.